Guideline Value for MANGALI AMMAN KOIL 16 & 18 STREETS

Mangali Amman Koil 16 & 18 Streets guideline value

The current guideline value for Mangali Amman Koil 16 & 18 Streets is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Kovilambakkam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Mangali Amman Koil 16 & 18 Streets has changed

The guideline value for Mangali Amman Koil 16 & 18 Streets has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, followed by another increase to Rs 2,160 per sq.ft in 2024, reflecting an 8% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilambakkam

Kovilambakkam has 61 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing the 2024 figure for Mangali Amman Koil 16 & 18 Streets below this median.

• Mandiyamman Koil Street: Rs 2,750 per sq.ft (2024)
• Madipakkam Main Road: Rs 4,070 per sq.ft (2024)
• Mayana Salai: Rs 2,160 per sq.ft (2024)
• Maangali Amman Koil Road: Rs 4,400 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,380 per sq.ft (2024)
• Kurunji Nagar 1 To 6 Main Road: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Mangali Amman Koil 16 & 18 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total costs together to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangali Amman Koil 16 & 18 Streets?

The Sub Registrar Office that covers Mangali Amman Koil 16 & 18 Streets 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 more details.

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

The guideline value is an important factor when buying or selling property in Kovilambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are essential costs in the property transaction process.

When a property is sold, the sale price must be at least equal to the guideline value to ensure compliance with registration norms. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Mangali Amman Koil 16 & 18 Streets?

The current guideline value for Mangali Amman Koil 16 & 18 Streets is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Mangali Amman Koil 16 & 18 Streets?

The land classification for Mangali Amman Koil 16 & 18 Streets is Residential Class II Type - I.

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

The Sub Registrar Office for Mangali Amman Koil 16 & 18 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 21,60,000 would incur a stamp duty of Rs 1,51,200.