Guideline Value for Chinna Mangadu Met Street

Chinna Mangadu Met Street guideline value

The current guideline value of Chinna Mangadu Met Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Chinna Mangadu Met Street has changed

Over the years, the guideline value of Chinna Mangadu Met Street has seen significant changes. The earliest recorded revision was in 2017, which set the value at Rs 1,139 per sq.ft. This figure increased to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

Mangadu -A features a total of 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,870 per sq.ft, which is equal to the current value of Chinna Mangadu Met Street.

• Chinna Mangadu Ist Street: Rs 1,870 per sq.ft (2024)
• Chinna Mangadu IInd Street: Rs 1,870 per sq.ft (2024)
• Chinnappa Nagar: Rs 1,870 per sq.ft (2024)
• Christian Bruel Ground Road: Rs 1,540 per sq.ft (2024)
• Chakra Nagar Part IV: Rs 2,200 per sq.ft (2024)
• Chakra Nagar part I: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Mangadu Met Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, while the registration fee at 2% would be Rs 37,400. Therefore, the total cost for stamp duty and registration fee would be Rs 1,68,300. It is important to 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 Chinna Mangadu Met Street?

The Sub Registrar Office that covers Chinna Mangadu Met Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that the transaction is officially recorded and that the appropriate taxes are collected by the government.

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for calculating the stamp duty. This ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chinna Mangadu Met Street?

The current guideline value of Chinna Mangadu Met Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,139 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2023, and then to Rs 1,870 per sq.ft in 2024, reflecting a total increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for property in Chinna Mangadu Met Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300.

Which Sub Registrar Office covers Chinna Mangadu Met Street?

The Kunrathur Sub Registrar Office covers Chinna Mangadu Met Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Chinna Mangadu Met Street?

Chinna Mangadu Met Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.