Guideline Value for THIRU.VI.KA STREET

Thiru.VI.Ka Street guideline value

The current guideline value of Thiru.VI.Ka Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Manali village under the Thiruvottiyur SRO, classified as Residential Special Type - II.

How the guideline value of Thiru.VI.Ka Street has changed

The guideline value for Thiru.VI.Ka Street has undergone several revisions over the years. In 2002, the guideline value was Rs 92 per sq.ft, which increased to Rs 105 per sq.ft in 2003, marking a 14% rise. The value then saw a significant increase to Rs 200 per sq.ft in 2007, reflecting a 90% change. Following this, the value jumped to Rs 1,100 per sq.ft in 2012, a remarkable increase of 450%. However, by 2017, the value decreased to Rs 737 per sq.ft, representing a decline of 33%. The value was revised to Rs 1,100 per sq.ft in 2023, and the most recent revision has set it at Rs 1,200 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1204%. The register has no figures for the years between 2002 and 2003, 2012 and 2017, and 2017 and 2023.

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. The median value among these streets is Rs 1,200 per sq.ft, which is equal to the current guideline value of Thiru.VI.Ka Street.

• Thiruvenkadam Street: Rs 1,200 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,500 per sq.ft (2024)
• Thillapuram Ist Street To 3rd Street: Rs 1,200 per sq.ft (2024)
• Thillaipuram: Rs 1,200 per sq.ft (2024)
• Varadharajan Street: Rs 1,500 per sq.ft (2024)
• Thamaraikulam Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.VI.Ka Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thiru.VI.Ka Street?

The Sub Registrar Office that covers Thiru.VI.Ka Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manali. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at an appropriate value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Thiru.VI.Ka Street?

The current guideline value of Thiru.VI.Ka Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 92 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, marking an overall increase of 1204% over the years.

What is the land classification for Thiru.VI.Ka Street?

Thiru.VI.Ka Street is classified as Residential Special Type - II under the Thiruvottiyur SRO.

What are the stamp duty rates for properties in Thiru.VI.Ka Street?

The stamp duty for properties in Thiru.VI.Ka Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thiru.VI.Ka Street located?

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