Guideline Value for ALAMELU MANGAPURAM (SRI)

Alamelu Mangapuram (Sri) guideline value

The current guideline value of Alamelu Mangapuram (Sri) is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Alamelu Mangapuram (Sri) has changed

Over the years, the guideline value of Alamelu Mangapuram (Sri) has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Chemmancheri

Chemmancheri village features 195 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value among these streets is Rs 1,700 per sq.ft, which aligns with the current guideline value of Alamelu Mangapuram (Sri).

• Ambedkar Street: Rs 1,700 per sq.ft (2024)
• Adhi Lakshmi / Kalaiarasi Garden: Rs 1,100 per sq.ft (2024)
• Abdul Karim Garden: Rs 3,300 per sq.ft (2024)
• Abdul Hussain Garden: Rs 3,300 per sq.ft (2024)
• Annai Sathya Street: Rs 1,700 per sq.ft (2024)
• Annamalai Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Alamelu Mangapuram (Sri)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost to Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Alamelu Mangapuram (Sri)?

The Sub Registrar Office that covers Alamelu Mangapuram (Sri) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the current market standards. This means that buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Alamelu Mangapuram (Sri)?

The current guideline value of Alamelu Mangapuram (Sri) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 13% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing various fluctuations over the years.

What are the stamp duty and registration fees for property in Alamelu Mangapuram (Sri)?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Alamelu Mangapuram (Sri)?

The Neelankarai Sub Registrar Office handles property registrations for Alamelu Mangapuram (Sri). The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined in Chemmancheri?

The guideline value in Chemmancheri is determined based on various factors, including land classification and the values assigned to different streets within the village. It is regularly updated to reflect the current market conditions.