Guideline Value for Mangalapuram Padalaru Street

Mangalapuram Padalaru Street guideline value

The current guideline value of Mangalapuram Padalaru 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 falls under the Residential Class III Type - II land classification.

How the guideline value of Mangalapuram Padalaru Street has changed

The guideline value for Mangalapuram Padalaru Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then further rose to Rs 2,500 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, indicating that the 2024 figure for Mangalapuram Padalaru Street is below the median.

• Mangalapuram Nalla Kinaru street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Padasalai Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Kullan 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)
• Mangalapuram bajanai Koil Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram Padalaru 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 is charged at 7%, amounting to Rs 1,75,000, and the registration fee is charged at 2%, which is Rs 50,000. Together, the total cost for stamp duty and registration fee would be Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mangalapuram Padalaru Street?

The Mangalapuram Padalaru Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mangalapuram Padalaru Street?

The current guideline value of Mangalapuram Padalaru 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 changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Mangalapuram Padalaru Street?

Mangalapuram Padalaru Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Mangalapuram Padalaru Street?

The Sub Registrar Office covering Mangalapuram Padalaru Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000.