Guideline Value for Mangala Nagar 13th Cross Street

Mangala Nagar 13th Cross Street guideline value

The current guideline value of Mangala Nagar 13th Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mangala Nagar 13th Cross Street has changed

The guideline value for Mangala Nagar 13th Cross Street has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 3,600 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 2,412 per sq.ft. Following that, the value increased significantly to Rs 3,600 per sq.ft in 2023, and then to Rs 3,960 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a notable decline of 33%, while the subsequent rise from 2017 to 2023 saw an increase of 49%. Overall, the guideline value has increased by 10% from the 2012 revision to the current 2024 figure.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is the same as the guideline value for Mangala Nagar 13th Cross Street.

• Mangala Nagar 12th Cross Street - 2nd Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 1st Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 12th Cross Street - 1st Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 1st Main road: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 11th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 10th Cross Street -4th Lane: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Nagar 13th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, while the registration fee at 2% would be Rs 79,200, bringing the total fees together to Rs 3,56,400. 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 Mangala Nagar 13th Cross Street?

The Kunrathur Sub Registrar Office covers Mangala Nagar 13th Cross Street. The office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Mangala Nagar 13th Cross Street?

The current guideline value of Mangala Nagar 13th Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then increased to Rs 3,600 in 2023, and finally to Rs 3,960 in 2024.

What is the land classification for Mangala Nagar 13th Cross Street?

The land classification for Mangala Nagar 13th Cross Street is Residential Special Type - I.

Where can I find the registration office for Mangala Nagar 13th Cross Street?

The registration office for Mangala Nagar 13th Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Mangala Nagar 13th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,60,000, the stamp duty at 7% would be Rs 2,77,200.