Guideline Value for MANGAYARKARASI STREET (WARD -6)

Mangayarkarasi Street (Ward -6) guideline value

The current guideline value of Mangayarkarasi Street (Ward -6) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - III.

How the guideline value of Mangayarkarasi Street (Ward -6) has changed

The guideline value for Mangayarkarasi Street has seen several revisions over the years. In 2012, the value was Rs 1,600 per sq.ft, which decreased to Rs 1,072 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, representing a 49% rise. The latest revision in 2024 set the guideline value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Mangayarkarasi Street's 2024 figure above this median.

• Manickavasagar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Malar Avenue (N): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Mangayarkarasi Street (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total charges to Rs 1,58,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangayarkarasi Street (Ward -6)?

The Sub Registrar Office that covers Mangayarkarasi Street (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to understand the implications of the guideline value on their financial responsibilities during the registration process.

Frequently asked questions

What is the current guideline value of Mangayarkarasi Street (Ward -6)?

The current guideline value of Mangayarkarasi Street (Ward -6) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification of Mangayarkarasi Street?

Mangayarkarasi Street is classified as Residential Special Type - III under the Chengleput Joint II SRO.

How is stamp duty calculated for properties in Mangayarkarasi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,23,200.

Where is the Sub Registrar Office for Mangayarkarasi Street located?

The Sub Registrar Office for Mangayarkarasi Street (Ward -6) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.