Guideline Value for MANGAPATHY NAICKEN STREET

Mangapathy Naicken Street guideline value

The current guideline value of Mangapathy Naicken Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Mangapathy Naicken Street has changed

Over the years, the guideline value of Mangapathy Naicken Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 150% rise. However, this value dropped to Rs 3,015 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The value then increased again to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 172%, demonstrating significant fluctuations over the years.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, which places Mangapathy Naicken Street's 2024 value below this median.

• Manicka Chetty Street: Rs 6,500 per sq.ft (2024)
• Manickkeswari Road: Rs 8,800 per sq.ft (2024)
• Manonmani Ammal Street: Rs 7,700 per sq.ft (2024)
• Masudi Street: Rs 4,400 per sq.ft (2024)
• Medavakkam Tank 1st Street: Rs 6,500 per sq.ft (2024)
• Medavakkam Tank 2nd Street: Rs 6,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mangapathy Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangapathy Naicken Street?

The Sub Registrar Office that covers Mangapathy Naicken Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mangapathy Naicken Street?

The current guideline value of Mangapathy Naicken Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from 2007 to 2024, where it rose by 172%. The latest increase from 2023 to 2024 is 9%.

What is the land classification for Mangapathy Naicken Street?

Mangapathy Naicken Street is classified as Residential Class III Type - II under the Purasaivakkam SRO.

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

For a property valued at the current guideline value, the stamp duty is calculated at 7% and the registration fee at 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 4,41,000.

Where is the Sub Registrar Office for Mangapathy Naicken Street located?

The Sub Registrar Office for Mangapathy Naicken Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.