Guideline Value for MANGALA VINAYAGAR KOIL STREET

Mangala Vinayagar Koil Street guideline value

The current guideline value of Mangala Vinayagar Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thirusulam village under the Pallavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Mangala Vinayagar Koil Street has changed

The guideline value for Mangala Vinayagar Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. The value increased to Rs 1,000 per sq.ft in 2023, followed by a significant rise to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 32% increase.

Overall, from the 2012 revision to the current 2024 value, there has been an increase of 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 1,940 per sq.ft, indicating that Mangala Vinayagar Koil Street's 2024 figure is below this median.

• Mangala Vinayagar Koil 1 To 6 Streets: Rs 1,320 per sq.ft (2024)
• Mangala Vinayakar Kiol Street: Rs 1,320 per sq.ft (2024)
• Madras Dock Labour Colony: Rs 2,200 per sq.ft (2024)
• M.G.R.Nagar: Rs 1,100 per sq.ft (2024)
• Lakshmanan Nagar Highway Salai: Rs 1,940 per sq.ft (2024)
• Lakshmanan Nagar 1 To 10 Streets: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangala Vinayagar Koil Street?

The Sub Registrar Office that covers Mangala Vinayagar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thirusulam. It determines the minimum value at which a property can be registered, influencing the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and accurate financial planning.

Frequently asked questions

What is the current guideline value of Mangala Vinayagar Koil Street?

The current guideline value of Mangala Vinayagar Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Mangala Vinayagar Koil Street?

Mangala Vinayagar Koil Street is classified as Residential Class III Type - I under the Pallavaram SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees can amount to Rs 1,18,800.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Mangala Vinayagar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.