Guideline Value for Mangala Kizhar Steet

Mangala Kizhar Steet guideline value

The current guideline value of Mangala Kizhar Steet is Rs 260 per sq.ft, effective from 1 July 2024. This street is located in Ammayarkuppam village, under the Ramakrishna Rajupettai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mangala Kizhar Steet has changed

The guideline value for Mangala Kizhar Steet has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 260 per sq.ft in 2012. However, it then decreased to Rs 174 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintained the value at Rs 260 per sq.ft, indicating no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the overall change from 2007 to 2024 shows a substantial increase of 160%. The value remained stable at Rs 260 per sq.ft in both the 2023 and 2024 revisions, reflecting a consistent valuation in recent years.

Guideline values in Ammayarkuppam

Ammayarkuppam has 43 streets under the Ramakrishna Rajupettai SRO carrying a 2024 guideline value, ranging from Rs 150 to Rs 260 per sq.ft. The median value for these streets is Rs 260 per sq.ft, which aligns with the current guideline value of Mangala Kizhar Steet.

• Ma.Po.C. Salai: Rs 260 per sq.ft (2024)
• L.N. Koil Street: Rs 260 per sq.ft (2024)
• Kumaran Street: Rs 260 per sq.ft (2024)
• Kulakarai St: Rs 260 per sq.ft (2024)
• K.P.N. Kandigai Harijana Colony: Rs 150 per sq.ft (2024)
• K.P.N. Kandigai Arunthathi Colony: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Kizhar Steet

For a 1,000 sq.ft plot at the current rate of Rs 260 per sq.ft, the guideline value amounts to Rs 2,60,000. The stamp duty at 7% would be Rs 18,200, and the registration fee at 2% would be Rs 5,200, bringing the total fees to Rs 23,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangala Kizhar Steet?

The Sub Registrar Office covering Mangala Kizhar Steet is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Ammayarkuppam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which may affect the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Mangala Kizhar Steet?

The current guideline value of Mangala Kizhar Steet is Rs 260 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 260 per sq.ft in 2012, decreased to Rs 174 per sq.ft in 2017, and has remained at Rs 260 per sq.ft in both 2023 and 2024.

What is the median guideline value in Ammayarkuppam?

The median guideline value for the 43 streets in Ammayarkuppam is Rs 260 per sq.ft, which is also the current value for Mangala Kizhar Steet.

What are the stamp duty rates applicable in Mangala Kizhar Steet?

The stamp duty rate for property transactions in Mangala Kizhar Steet is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Ramakrishna Rajupettai Sub Registrar Office?

The Ramakrishna Rajupettai Sub Registrar Office is located at Pallipattu Road, Rk Pettai 631 303, Chennai. You can find more details through the provided link.