Guideline Value for Mangala Nagar 8th Cross Street

Mangala Nagar 8th Cross Street guideline value

The current guideline value of Mangala Nagar 8th 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 8th Cross Street 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 then decreased 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 most recent 2024 revision raised it further to Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change is an increase of 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 carry a 2024 guideline value, 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 the same as the 2024 figure for Mangala Nagar 8th Cross Street.

• Mangala Nagar 7th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 6th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 9th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 5th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar Annex: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Nagar 8th 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, totaling 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?

The Sub Registrar Office that covers Mangala Nagar 8th 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This is essential for both buyers and sellers to understand their financial obligations during the property transfer process.

Frequently asked questions

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

The current guideline value of Mangala Nagar 8th 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, which is a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What is the land classification of Mangala Nagar 8th Cross Street?

The land classification for Mangala Nagar 8th Cross Street is Residential Special Type - I. This classification indicates the intended use of the land for residential purposes.

Where can I find the registration office for this area?

The registration office for Mangala Nagar 8th 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 this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,77,200 at 7% of the guideline value.