Guideline Value for Mangala Nagar 3rd Cross Street

Mangala Nagar 3rd Cross Street guideline value

The current guideline value of Mangala Nagar 3rd 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 3rd Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,600 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 2,412 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 3,600 per sq.ft in the 2023 revision, followed by a rise to Rs 3,960 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The 2017 figure of Rs 2,412 per sq.ft was a notable low before the subsequent increases in the following revisions.

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 is Rs 3,960 per sq.ft, which is equal to the guideline value of Mangala Nagar 3rd Cross Street.

• Mangala Nagar 3rd Main road: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 2nd Main Road: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 4th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 4th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 5th Cross Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Nagar 3rd 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, and the registration fee at 2% would be Rs 79,200, bringing the total cost for these fees to Rs 3,56,400. 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 on fees applicable to property transactions.

Which Sub Registrar Office covers Mangala Nagar 3rd Cross Street?

The Sub Registrar Office that covers Mangala Nagar 3rd Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more details, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Porur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

When registering a property, the guideline value is the benchmark against which the stamp duty is calculated. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring that they are prepared for the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Mangala Nagar 3rd Cross Street?

The current guideline value of Mangala Nagar 3rd 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 seen several changes, starting from Rs 3,600 per sq.ft in 2012, decreasing to Rs 2,412 per sq.ft in 2017, then increasing to Rs 3,600 per sq.ft in 2023, and finally reaching Rs 3,960 per sq.ft in 2024.

What is the land classification for Mangala Nagar 3rd Cross Street?

Mangala Nagar 3rd Cross Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations for the area.

How is the stamp duty calculated for properties in Porur?

Stamp duty for properties in Porur is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the true value of the property being registered.