Guideline Value for Mangalapuram 2nd St

Mangalapuram 2nd St guideline value

The current guideline value of Mangalapuram 2nd St is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Mangalapuram 2nd St has changed

The guideline value for Mangalapuram 2nd St has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a significant increase from the 2017 revision, which was Rs 1,340 per sq.ft. This change represents a rise of 64% between the 2017 and 2024 revisions. It is important to note that the register has no figure for this street for the years 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, the guideline value had not been recorded for Mangalapuram 2nd St in the available revisions. The 2017 figure of Rs 1,340 per sq.ft was the first recorded value for this street, marking a new benchmark for property transactions in the area.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Mangalapuram 2nd St's current value below this median.

• Mangalapuram 1st St: Rs 2,200 per sq.ft (2024)
• Mangalapuram: Rs 2,200 per sq.ft (2024)
• Malliga Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Malliga Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Manthoppu Street (Brindavan Avenue): Rs 4,400 per sq.ft (2024)
• Mariammankoil Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mangalapuram 2nd St?

The Sub Registrar Office that covers Mangalapuram 2nd 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Tambaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Mangalapuram 2nd St is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a 64% increase.

What is the land classification for Mangalapuram 2nd St?

The land classification for Mangalapuram 2nd St is Residential Class I Type - II.

What are the stamp duty and registration fees for a property in Mangalapuram 2nd St?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Mangalapuram 2nd St?

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