Guideline Value for Mangalapuram 2-nd St

Mangalapuram 2-nd St guideline value

The current guideline value of Mangalapuram 2-nd St is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO, classified as Commercial Class I Type - II.

How the guideline value of Mangalapuram 2-nd St has changed

The guideline value for Mangalapuram 2-nd St has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,850 per sq.ft.

From 2007 to 2012, there was a remarkable increase of 483%, but this was followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023 and by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 542%. The register has no figures for the years 2002 and 2003.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Mangalapuram 2-nd St's 2024 figure above this median.

• Mangalapuram 1-st St: Rs 1,650 per sq.ft (2024)
• Mangalapuram 3-rd St: Rs 1,650 per sq.ft (2024)
• Mangalapuram Main Road: Rs 3,850 per sq.ft (2024)
• Mangalapuram & Thiruvalluvarpuram: Rs 1,650 per sq.ft (2024)
• Mangali Amman Nagar: Rs 2,200 per sq.ft (2024)
• Mallika nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram 2-nd St

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, making the total Rs 3,46,500. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Mangalapuram 2-nd St?

The Sub Registrar Office that covers Mangalapuram 2-nd St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Irumpuliyur, the guideline value is a crucial factor in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate taxes on property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Mangalapuram 2-nd St?

The current guideline value of Mangalapuram 2-nd St is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, with various increases and decreases across the years.

What is the land classification for Mangalapuram 2-nd St?

Mangalapuram 2-nd St is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Mangalapuram 2-nd St?

The Sub Registrar Office for Mangalapuram 2-nd St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For Mangalapuram 2-nd St, the stamp duty is 7% of the guideline value.