Guideline Value for Mangai Street

Mangai Street guideline value

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

How the guideline value of Mangai Street has changed

The guideline value for Mangai Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, it decreased to Rs 3,015 per sq.ft in the 2017 revision. The 2023 revision saw a substantial increase to Rs 4,500 per sq.ft, followed by the current value of Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2007 to 2024, the overall increase in guideline value is 305%. The register has no figures for Mangai Street in the years 2002 and 2003.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value of Mangai Street.

• Mangai Nagar: Rs 4,900 per sq.ft (2024)
• Malligaipoo Nagar: Rs 4,900 per sq.ft (2024)
• Manickam Street (Muthurangam Block): Rs 4,100 per sq.ft (2024)
• Manickam Street (W.M): Rs 5,500 per sq.ft (2024)
• Manikkavasagar Street: Rs 4,100 per sq.ft (2024)
• Manimegalai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mangai Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total fees to 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.

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

Which Sub Registrar Office covers Mangai Street?

The Sub Registrar Office that covers Mangai Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

Frequently asked questions

What is the current guideline value of Mangai Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing a significant increase overall.

What is the land classification of Mangai Street?

Mangai Street is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Mangai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at 7%.