Guideline Value for Mangala Nagar 5th Cross Street

Mangala Nagar 5th Cross Street guideline value

The current guideline value of Mangala Nagar 5th 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, classified as Residential Special Type - I.

How the guideline value of Mangala Nagar 5th Cross Street has changed

The guideline value for Mangala Nagar 5th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,600 per sq.ft in the 2023 revision, and it has now risen to Rs 3,960 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, which is equal to the current guideline value of Mangala Nagar 5th Cross Street.

• Mangala Nagar 4th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 6th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 4th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 7th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 3rd Main road: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Nagar 5th 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 amounts to Rs 39,60,000. The stamp duty at 7% would be 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 or the sale price.

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

Which Sub Registrar Office covers Mangala Nagar 5th Cross Street?

The Sub Registrar Office that covers Mangala Nagar 5th Cross Street is the Kunrathur Sub Registrar Office, 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 plays a crucial role during the registration process of property transactions. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mangala Nagar 5th Cross Street?

The current guideline value of Mangala Nagar 5th 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 2023 to Rs 3,960 per sq.ft in 2024, a 10% increase. It was Rs 2,412 per sq.ft in 2017, showing a 49% increase from that year to 2023.

Where can I find the registration office for Mangala Nagar 5th Cross Street?

The registration office for Mangala Nagar 5th Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty rates for properties in Mangala Nagar 5th Cross Street?

The stamp duty rate for properties in Mangala Nagar 5th Cross Street is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same amount.

What land classification does Mangala Nagar 5th Cross Street fall under?

Mangala Nagar 5th Cross Street is classified as Residential Special Type - I, which is relevant for determining the guideline value and other regulatory aspects of property transactions.