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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

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

Over the years, the guideline value for Mangayarkarasi Street has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft. However, the value increased significantly in the following years, reaching Rs 1,600 per sq.ft in the 2023 revision and then increasing to Rs 1,760 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2017, there was a decrease of 33%, while the subsequent increase from 2017 to 2023 was a notable 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, placing Mangayarkarasi Street's 2024 figure above this median.

• Manickavasagar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Mamarathu Gate Union Road (Per): Rs 990 per sq.ft (2024)
• Manimegalai Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Manonmanian Street (Ward -8): Rs 1,760 per sq.ft (2024)
• Manonmani Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Malar Aveunue (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 would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees together Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Panangottur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees are calculated fairly based on the current market standards.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the costs associated with property transactions. This value is regularly updated, reflecting changes in the real estate landscape, and must be adhered to during the registration process.

Frequently asked questions

What is the current guideline value of Mangayarkarasi Street?

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 are the stamp duty and registration fees for a property in Mangayarkarasi Street?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which Sub Registrar Office covers Mangayarkarasi Street?

The Chengleput Joint II Sub Registrar Office covers Mangayarkarasi Street (Ward -6), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Mangayarkarasi Street?

The land classification for Mangayarkarasi Street (Ward -6) is Residential Special Type - III.