Guideline Value for ALAMELU MANGAPURAM

Alamelu Mangapuram guideline value

The current guideline value of Alamelu Mangapuram is Rs 11,500 per sq.ft, effective from 1 July 2024. This locality is situated in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Alamelu Mangapuram has changed

The guideline value for Alamelu Mangapuram has seen significant changes over the years. In 2007, the value was Rs 1,950 per sq.ft, which increased dramatically to Rs 10,500 per sq.ft in 2012, marking a rise of 438%. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a decline of 33%. The subsequent revisions saw a rise to Rs 10,500 per sq.ft in 2023, and the current value is Rs 11,500 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 490%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which means that the guideline value for Alamelu Mangapuram is above this median.

• Adyar Gate Club Road: Rs 25,300 per sq.ft (2024)
• Ammaniammal Street: Rs 8,800 per sq.ft (2024)
• Adanjan Mudali Street: Rs 8,800 per sq.ft (2024)
• Adam Street: Rs 8,800 per sq.ft (2024)
• Abraham Street: Rs 8,800 per sq.ft (2024)
• Anandam Colony: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Alamelu Mangapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, making the total cost for these fees Rs 10,35,000. It is important to note that the 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 more detailed calculations.

Which Sub Registrar Office covers Alamelu Mangapuram?

The Sub Registrar Office that covers Alamelu Mangapuram is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

During the registration process, the guideline value ensures that the government receives appropriate revenue from property transactions. It is essential for both buyers and sellers to understand the guideline value to accurately assess the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Alamelu Mangapuram?

The current guideline value of Alamelu Mangapuram is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,950 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, showing an overall increase of 490% over the years.

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

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Which Sub Registrar Office covers Alamelu Mangapuram?

The Mylapore Sub Registrar Office covers Alamelu Mangapuram, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Alamelu Mangapuram?

The land classification for Alamelu Mangapuram is Residential Class II Type - III, indicating its use for residential purposes.