Guideline Value for MANGALA VINAYAKAR KIOL STREET

Mangala Vinayakar Kiol Street guideline value

The current guideline value of Mangala Vinayakar Kiol 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 Vinayakar Kiol Street has changed

The guideline value for Mangala Vinayakar Kiol Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 500% rise. However, the value decreased to Rs 804 per sq.ft in 2017, representing a 33% drop. The 2023 revision saw an increase to Rs 1,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,320 per sq.ft, reflecting a 32% increase from the previous year.

The guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 560%.

Guideline values in Thirusulam

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

• Mangala Vinayagar Koil Street: Rs 1,320 per sq.ft (2024)
• Mangala Vinayagar Koil 1 To 6 Streets: 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 Vinayakar Kiol Street

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

Which Sub Registrar Office covers Mangala Vinayakar Kiol Street?

The Sub Registrar Office that covers Mangala Vinayakar Kiol Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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 serves as a benchmark for determining the minimum price 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, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Mangala Vinayakar Kiol Street?

The current guideline value of Mangala Vinayakar Kiol 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 200 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the median guideline value in Thirusulam?

The median guideline value for the 74 streets in Thirusulam under the Pallavaram SRO is Rs 1,940 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Mangala Vinayakar Kiol Street?

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