Guideline Value for Mangala Nagar 7th Cross Street

Mangala Nagar 7th Cross Street guideline value

The current guideline value of Mangala Nagar 7th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Mangala Nagar 7th Cross Street has changed

The guideline value for Mangala Nagar 7th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,600 per sq.ft. This value remained unchanged until the next revision in 2017, where it dropped to Rs 2,412 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly to Rs 3,600 per sq.ft in 2023, and then further rose to Rs 3,960 per sq.ft in the 2024 revision, reflecting a 10% increase.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with the median value being Rs 3,960 per sq.ft. The guideline value for Mangala Nagar 7th Cross Street aligns with this median.

• Mangala Nagar 6th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 5th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 4th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 9th Cross Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Nagar 7th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,960 per sq.ft, the 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, together totaling Rs 3,56,400. It is important to note that 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 details.

Which Sub Registrar Office covers Mangala Nagar 7th Cross Street?

The Kunrathur Sub Registrar Office covers Mangala Nagar 7th Cross Street, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Porur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all parties are aware of the financial implications of the transaction.

Additionally, the guideline value helps maintain transparency in property dealings, providing a standardized measure for property valuation. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mangala Nagar 7th Cross Street?

The current guideline value of Mangala Nagar 7th 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, reflecting a 10% increase. From 2012 to 2024, the overall increase is 10% as well.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which office handles the registration for Mangala Nagar 7th Cross Street?

The Kunrathur Sub Registrar Office is responsible for handling registrations for Mangala Nagar 7th Cross Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Mangala Nagar 7th Cross Street?

Mangala Nagar 7th Cross Street is classified as Residential Special Type - I, indicating its suitability for residential development.