Guideline Value for MANGALI NAGAR III RD STREET

Mangali Nagar III Rd Street guideline value

The current guideline value of Mangali Nagar III Rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, and it is classified as Residential Special Type - I.

How the guideline value of Mangali Nagar III Rd Street has changed

The guideline value for Mangali Nagar III Rd Street has undergone several revisions over the years. The 2007 revision recorded a value of Rs 1,350 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, there was a decrease to Rs 4,020 per sq.ft in the 2017 revision. Following this, the value rose to Rs 6,000 per sq.ft in 2023, and the most recent 2024 revision set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 389%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, placing Mangali Nagar III Rd Street's 2024 figure above this median.

• Mangali Nagar: Rs 6,600 per sq.ft (2024)
• Mangali Nagar II Nd Street: Rs 6,600 per sq.ft (2024)
• Mangali Nagar I St Street: Rs 6,600 per sq.ft (2024)
• Maraimalai Adigalar Street (Razack Garden): Rs 6,000 per sq.ft (2024)
• Mariamman Koil Street: Rs 3,800 per sq.ft (2024)
• Mariamman Koil Street-Ashok Nagar: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mangali Nagar III Rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Mangali Nagar III Rd Street?

The Kodambakkam Sub Registrar Office covers Mangali Nagar III Rd Street. The office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that all transactions are recorded at a value deemed acceptable by the authorities.

When buying or selling property, the guideline value helps in determining the legal obligations related to the transaction. Buyers should be aware that the duty is charged based on the higher value between the guideline value and the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mangali Nagar III Rd Street?

The current guideline value of Mangali Nagar III Rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly, from Rs 1,350 per sq.ft to Rs 6,600 per sq.ft in 2024, marking a total increase of 389% over this period.

What is the registration fee for property in Mangali Nagar III Rd Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 66,00,000, the registration fee would be Rs 1,32,000.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Mangali Nagar III Rd Street?

Mangali Nagar III Rd Street is classified as Residential Special Type - I, indicating its suitability for residential development.