Guideline Value for Mangala Nagar 8th Cross Street - Lane

Mangala Nagar 8th Cross Street - Lane guideline value

The current guideline value of Mangala Nagar 8th Cross Street - Lane is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the jurisdiction of the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Mangala Nagar 8th Cross Street - Lane has changed

The guideline value for Mangala Nagar 8th 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 2017. Following this, the 2023 revision increased the value to Rs 3,600 per sq.ft, and the latest revision in 2024 has set it at Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2007.

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 equal to the current guideline value of Mangala Nagar 8th Cross Street - Lane.

• Mangala Nagar 8th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 9th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 7th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar Annex: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 6th Cross Street: 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 8th Cross Street - Lane

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 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.

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

Which Sub Registrar Office covers Mangala Nagar 8th Cross Street - Lane?

The Mangala Nagar 8th Cross Street - Lane is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Porur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is considered by the registration office to ensure compliance with legal requirements.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Mangala Nagar 8th Cross Street - Lane?

The current guideline value of Mangala Nagar 8th Cross Street - Lane 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 undergone several revisions, with the most recent being an increase from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024. The value also decreased from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017 before rising again.

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles the registration for this street?

The Kunrathur Sub Registrar Office handles the registration for Mangala Nagar 8th Cross Street - Lane, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Mangala Nagar 8th Cross Street - Lane?

The land classification for Mangala Nagar 8th Cross Street - Lane is Residential Special Type - I, indicating its suitability for residential development.