Guideline Value for Mangalapuram Nalla Kinaru street

Mangalapuram Nalla Kinaru street guideline value

The current guideline value for Mangalapuram Nalla Kinaru street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Mangalapuram Nalla Kinaru street has changed

The guideline value for Mangalapuram Nalla Kinaru street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from the previous 2017 revision of Rs 1,541 per sq.ft. The 2023 revision increased the value to Rs 2,300 per sq.ft, followed by a further increase to Rs 2,500 per sq.ft in the 2024 revision, marking a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, indicating that Mangalapuram Nalla Kinaru street's 2024 value is below that median.

• Mangalapuram Kullan Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Padalaru Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Padasalai Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram bajanai Koil Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Periyar 2nd Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram pillaiar koil Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram Nalla Kinaru street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total cost to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangalapuram Nalla Kinaru street?

The Mangalapuram Nalla Kinaru street falls under the Ambattur Sub Registrar Office located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration reflects a fair value in accordance with government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Mangalapuram Nalla Kinaru street?

The current guideline value for Mangalapuram Nalla Kinaru street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024. It also rose significantly from Rs 1,541 per sq.ft in 2017 to Rs 2,300 per sq.ft in 2023.

What is the land classification for Mangalapuram Nalla Kinaru street?

Mangalapuram Nalla Kinaru street is classified as Residential Class III Type - II, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Mangalapuram Nalla Kinaru street?

The Sub Registrar Office for Mangalapuram Nalla Kinaru street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the stamp duty rate for property transactions in Ambattur?

The stamp duty rate for property transactions in Ambattur is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.