Guideline Value for THIRUVALLUVAR STREET

Thiruvalluvar Street guideline value

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

How the guideline value of Thiruvalluvar Street has changed

The guideline value for Thiruvalluvar Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 160 per sq.ft. This increased to Rs 183 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a 119% increase. Following this, the value jumped to Rs 1,400 per sq.ft in 2012, which was a substantial 250% increase. However, by 2017, the value decreased to Rs 938 per sq.ft, a decline of 33%. The value then increased to Rs 1,400 per sq.ft in 2023, before reaching the current figure 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 838%. There are no figures available for revisions from years not mentioned in the provided data.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, ranging from Rs 1,001 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,200 per sq.ft, placing Thiruvalluvar Street's 2024 figure above that median.

• Thiruvenkadam Street: Rs 1,200 per sq.ft (2024)
• Thiru.VI.Ka Street: Rs 1,200 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)
• Thamaraikulam Street: Rs 1,500 per sq.ft (2024)
• Varadharajan Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. Please note that the 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 details.

Which Sub Registrar Office covers Thiruvalluvar Street?

The Sub Registrar Office that covers Thiruvalluvar Street is 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 an important factor in the registration process for 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 the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government collects appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thiruvalluvar Street?

The current guideline value of Thiruvalluvar 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 changed from Rs 160 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 838% over the years.

What is the land classification of Thiruvalluvar Street?

Thiruvalluvar Street is classified as Mixed Special Type - III.

Where is the Thiruvottiyur Sub Registrar Office located?

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

How is stamp duty calculated for properties on Thiruvalluvar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,500 per sq.ft, the stamp duty would be Rs 1,05,000.