Guideline Value for Mangadu Road

Mangadu Road guideline value

The current guideline value of Mangadu Road in Moulivakkam village, under the Kunrathur SRO, is Rs 2,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Mangadu Road has changed

The guideline value for Mangadu Road has seen significant changes over the years. In 2003, the value was Rs 122 per sq.ft, which increased to Rs 500 per sq.ft in 2007. This was a substantial rise of 310%. The value then jumped to Rs 2,400 per sq.ft in 2012, marking an increase of 380%. However, it decreased to Rs 1,608 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,400 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,650 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 2072%.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, making the guideline value of Mangadu Road above the median.

• Mahalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Mawlieswarar Nagar: Rs 2,650 per sq.ft (2024)
• Madha Nagar: Rs 2,650 per sq.ft (2024)
• L.T. Avenue: Rs 2,650 per sq.ft (2024)
• Mettu Street: Rs 2,450 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mangadu Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,650 per sq.ft, the total guideline value amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, while the registration fee at 2% would be Rs 53,000. Together, the total cost for these fees would be Rs 2,38,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangadu Road?

The Sub Registrar Office that covers Mangadu Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Moulivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid during the registration process. This ensures that the fees are assessed based on a standardized value set by the government.

It is crucial for buyers and sellers to be aware of the current guideline value as it directly impacts the cost of property transactions. Understanding the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Mangadu Road?

The current guideline value of Mangadu Road is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 122 per sq.ft in 2003 to Rs 2,650 per sq.ft in 2024, reflecting an overall increase of 2072% over this period.

What are the stamp duty and registration fees for property in Mangadu Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 2,38,500.

Which Sub Registrar Office covers Mangadu Road?

The Kunrathur Sub Registrar Office covers Mangadu Road, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Mangadu Road?

The land classification for Mangadu Road is Mixed Special Type - I, which is relevant for determining the guideline value.