Guideline Value for Mangaiyarkarasi Street

Mangaiyarkarasi Street guideline value

The current guideline value of Mangaiyarkarasi Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur Sub Registrar Office (SRO), and is classified as Residential Special Type - II.

How the guideline value of Mangaiyarkarasi Street has changed

The guideline value of Mangaiyarkarasi Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a 450% rise. However, this value decreased to Rs 1,474 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 2,200 per sq.ft in 2023, and as of 2024, it stands at Rs 2,400 per sq.ft, representing a 9% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, making Mangaiyarkarasi Street's 2024 figure above this median.

• Manickam Avenue: Rs 4,400 per sq.ft (2024)
• Manickam Street: Rs 850 per sq.ft (2024)
• Manickavasakar Street: Rs 1,100 per sq.ft (2024)
• Manimekalai 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 1st Street: Rs 4,400 per sq.ft (2024)
• Manimekalai 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangaiyarkarasi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Mangaiyarkarasi Street?

The Sub Registrar Office that covers Mangaiyarkarasi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the 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 Selaiyur

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

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mangaiyarkarasi Street?

The current guideline value of Mangaiyarkarasi Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, showing a significant increase of 500% over this period.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, with Mangaiyarkarasi Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Mangaiyarkarasi Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 24,00,000, the total stamp duty and registration fees would be Rs 2,16,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.