Guideline Value for Mangalapuram Colony Road

Mangalapuram Colony Road guideline value

The current guideline value of Mangalapuram Colony Road is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village under the Kunrathur SRO, and it falls under the land classification of Residential Special Type - III.

How the guideline value of Mangalapuram Colony Road has changed

The guideline value for Mangalapuram Colony Road has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in 2023. The most recent 2024 revision has raised this figure to Rs 1,980 per sq.ft, marking a significant increase of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, it has risen by 64%. It is noteworthy that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are a total of 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, placing Mangalapuram Colony Road's 2024 figure above this median.

• Mangalapuram: Rs 1,980 per sq.ft (2024)
• Mangadu Main Road: Rs 1,980 per sq.ft (2024)
• Manali Saravana Nagar Ist Street: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar IInd Street: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar IIIrd Street: Rs 2,200 per sq.ft (2024)
• Manali Saravana Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangalapuram Colony Road?

The Mangalapuram Colony Road 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 Mangadu -A

The guideline value is a critical factor during property transactions in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees when you buy or sell property.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, reflecting the current market conditions as per the registration department's guidelines.

Frequently asked questions

What is the current guideline value of Mangalapuram Colony Road?

The current guideline value of Mangalapuram Colony Road is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024, marking a total increase of 64% from 2017 to 2024.

What is the land classification for Mangalapuram Colony Road?

The land classification for Mangalapuram Colony Road is Residential Special Type - III.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot would incur a total of Rs 1,78,200 in fees.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and is responsible for property registrations in the area.