Guideline Value for FLOWER STREET

Flower Street guideline value

The current guideline value of Flower Street, located in Mambalam village under the Thiyagaraya nagar SRO, is Rs 12,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Flower Street has changed

The guideline value for Flower Street has seen significant changes over the years. In 2002, the value was Rs 1,404 per sq.ft, which increased to Rs 1,558 per sq.ft in 2003, marking an 11% rise. The value continued to climb, reaching Rs 2,500 per sq.ft in 2007, a substantial increase of 60%. By 2012, it had jumped to Rs 11,000 per sq.ft, reflecting a remarkable 340% increase over the previous revision.

However, from 2012 to 2017, the value decreased to Rs 7,370 per sq.ft, a decline of 33%. The value then rose again to Rs 11,000 per sq.ft in 2023, and most recently, it increased to Rs 12,100 per sq.ft in 2024, representing a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 762%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO, with guideline values for 2024 ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, and Flower Street's 2024 figure is above this median.

• Gandhi Lane: Rs 4,400 per sq.ft (2024)
• Gandhipuram 1 Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 3 Street West To East: Rs 4,400 per sq.ft (2024)
• Gandhi Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Flower Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value would be Rs 1,21,00,000. The stamp duty at 7% would amount to Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total fees to Rs 10,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Flower Street?

The Sub Registrar Office that covers Flower Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Mambalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Flower Street?

The current guideline value of Flower Street is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,404 per sq.ft in 2002 to Rs 12,100 per sq.ft in 2024, showing an overall increase of 762%.

What are the stamp duty and registration fees for property in Flower Street?

For a property valued at Rs 1,21,00,000, the stamp duty would be Rs 8,47,000 and the registration fee would be Rs 2,42,000, totaling Rs 10,89,000.

Which Sub Registrar Office covers Flower Street?

The Thiyagaraya nagar Sub Registrar Office covers Flower Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification of Flower Street?

The land classification for Flower Street is Mixed Special Type - II.