Guideline Value for THAMARAIKULAM STREET

Thamaraikulam Street guideline value

The current guideline value of Thamaraikulam Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, classified as Mixed Special Type - III.

How the guideline value of Thamaraikulam Street has changed

The guideline value for Thamaraikulam Street has seen several revisions over the years. In 2002, the value was Rs 90 per sq.ft, which increased to Rs 103 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 200 per sq.ft in 2007, reflecting a 94% increase. Following this, the value surged to Rs 1,400 per sq.ft in 2012, a remarkable 600% increase. However, it dropped to Rs 938 per sq.ft in 2017, a decline of 33%. The value was revised to Rs 1,400 per sq.ft in 2023, before reaching the current value of Rs 1,500 per sq.ft in 2024, which is a 7% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,567%. There are no figures available for the revisions in the years not mentioned in the register.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 3,300 per sq.ft, with a median value of Rs 1,200 per sq.ft. Thamaraikulam Street's 2024 value of Rs 1,500 per sq.ft is above this median.

• Thillaipuram: Rs 1,200 per sq.ft (2024)
• Thillapuram Ist Street To 3rd Street: Rs 1,200 per sq.ft (2024)
• Sundaram Street: Rs 1,200 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,500 per sq.ft (2024)
• Thiruvenkadam Street: Rs 1,200 per sq.ft (2024)
• Thiru.VI.Ka Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thamaraikulam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thamaraikulam Street?

The Thamaraikulam Street falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Manali

The guideline value is a crucial factor in property transactions in Manali, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that all parties are aware of the financial obligations involved in the transaction.

At the time of registration, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Thamaraikulam Street?

The current guideline value of Thamaraikulam Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 90 per sq.ft in 2002 to the current Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 1,567% over the years.

What is the land classification of Thamaraikulam Street?

Thamaraikulam Street is classified as Mixed Special Type - III under the land classification system.

Where can I find the Sub Registrar Office for Thamaraikulam Street?

The Thiruvottiyur Sub Registrar Office covers Thamaraikulam Street and is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Thamaraikulam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 15,00,000, the stamp duty at 7% would amount to Rs 1,05,000.