Guideline Value for Mangaiyarkarasi Nagar

Mangaiyarkarasi Nagar guideline value

The current guideline value of Mangaiyarkarasi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Thalakanancherry village, under the Alandur SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Mangaiyarkarasi Nagar has changed

Looking at the revisions, the guideline value for Mangaiyarkarasi Nagar has seen significant changes over the years. The 2012 revision recorded a value of Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,500 per sq.ft in 2023, and further rose to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, there has been an increase of 11%.

The 2017 revision did not have a figure for this street in the register for the years 2002, 2003, and 2007. Thus, there are no figures available for those years in the register.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Mangaiyarkarasi Nagar.

• Mangaiyarkarasi Nagar 46 th street 1st cross street: Rs 3,900 per sq.ft (2024)
• Malaicharivu Road: Rs 2,800 per sq.ft (2024)
• Manimegalai Colony: Rs 2,800 per sq.ft (2024)
• Manimegalai Street: Rs 3,900 per sq.ft (2024)
• Madippakkam Main road: Rs 5,500 per sq.ft (2024)
• Madhavan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Mangaiyarkarasi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangaiyarkarasi Nagar?

The Sub Registrar Office that covers Mangaiyarkarasi Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thalakanancherry. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the buyer and seller must consider the guideline value for calculating the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Mangaiyarkarasi Nagar?

The current guideline value of Mangaiyarkarasi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for Mangaiyarkarasi Nagar?

The land classification for Mangaiyarkarasi Nagar is Residential Class I Type - III.

Where can I find the registration office for Mangaiyarkarasi Nagar?

The registration office for Mangaiyarkarasi Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Mangaiyarkarasi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.