Guideline Value for Mangalapuram 3-rd St

Mangalapuram 3-rd St guideline value

The current guideline value of Mangalapuram 3-rd St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mangalapuram 3-rd St has changed

The guideline value for Mangalapuram 3-rd St has undergone several revisions over the years. The 2007 revision set the guideline value at Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by the current rate of Rs 1,650 per sq.ft from the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%. The changes between the revisions indicate fluctuations in the property values over time, with the most notable increase occurring from 2017 to 2023, where the value rose by 49%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Mangalapuram 3-rd St is below this median.

• Mangalapuram Main Road: Rs 3,850 per sq.ft (2024)
• Mangalapuram 2-nd St: Rs 3,850 per sq.ft (2024)
• Mangalapuram & Thiruvalluvarpuram: Rs 1,650 per sq.ft (2024)
• Mangalapuram 1-st St: 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 3-rd St

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 3-rd St?

The Mangalapuram 3-rd St is covered by 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

The guideline value is a crucial factor in property transactions in Irumpuliyur, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

During the registration process, the buyer must pay the stamp duty and registration fee based on the guideline value or the sale price, whichever is higher. This practice helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mangalapuram 3-rd St?

The current guideline value of Mangalapuram 3-rd St is Rs 1,650 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 1,650 per sq.ft in 2024, reflecting an overall increase of 175% over this period.

What is the land classification for Mangalapuram 3-rd St?

Mangalapuram 3-rd St is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Mangalapuram 3-rd St?

The Sub Registrar Office covering Mangalapuram 3-rd St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Mangalapuram 3-rd St?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.