Guideline Value for Mangala Nagar 9th Cross Street

Mangala Nagar 9th Cross Street guideline value

The current guideline value of Mangala Nagar 9th 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 9th Cross Street has changed

The guideline value for Mangala Nagar 9th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,600 per sq.ft. This was followed by a decrease to Rs 2,412 per sq.ft in the 2017 revision, a significant drop of 33%. The value then increased to Rs 3,600 per sq.ft in the 2023 revision, before reaching the current value of Rs 3,960 per sq.ft in the 2024 revision, marking a 10% increase.

From 2017 to 2023, the guideline value saw a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have 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. The median value among these streets is Rs 3,960 per sq.ft, which is equal to the current guideline value of Mangala Nagar 9th Cross Street.

• Mangala Nagar 8th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar Annex: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 7th Cross Street: 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 9th 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, charged at 7%, would be Rs 2,77,200, while the registration fee at 2% would be Rs 79,200, resulting in a total of Rs 3,56,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangala Nagar 9th Cross Street?

The Mangala Nagar 9th Cross Street 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Porur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Mangala Nagar 9th Cross Street?

The current guideline value of Mangala Nagar 9th 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 various revisions, starting from Rs 3,600 per sq.ft in 2012, dropping to Rs 2,412 per sq.ft in 2017, rising 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 9th Cross Street?

The land classification for Mangala Nagar 9th Cross Street is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,60,000. The stamp duty at 7% is Rs 2,77,200, and the registration fee at 2% is Rs 79,200, totaling Rs 3,56,400.

Which office handles registrations for Mangala Nagar 9th Cross Street?

The Kunrathur Sub Registrar Office handles registrations for Mangala Nagar 9th Cross Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.