Guideline Value for Mangalapuram Padasalai Street

Mangalapuram Padasalai Street guideline value

The current guideline value of Mangalapuram Padasalai 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 Padasalai Street has changed

The guideline value for Mangalapuram Padasalai Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. Following that, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, the guideline value has increased by 9% from 2012 to 2024. The register has no 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 that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, placing Mangalapuram Padasalai Street's 2024 figure below the median.

• Mangalapuram Padalaru Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Periyar 2nd Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Nalla Kinaru street: Rs 2,500 per sq.ft (2024)
• Mangalapuram pillaiar koil Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Kullan Street: Rs 2,500 per sq.ft (2024)
• Mangalapuram Thiru-vi-ka Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram Padasalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty is charged at 7%, which totals Rs 1,75,000, while the registration fee is 2%, amounting to Rs 50,000. Together, the total cost for these fees is Rs 2,25,000. It's important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mangalapuram Padasalai Street?

The Mangalapuram Padasalai 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. You can find your SRO for more details.

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

When buying or selling property in Ambattur, the guideline value is a crucial factor in determining the stamp duty and registration fees. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from property transactions.

During the registration process, the guideline value is assessed alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mangalapuram Padasalai Street?

The current guideline value of Mangalapuram Padasalai Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, 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 stamp duty for property in Mangalapuram Padasalai Street?

The stamp duty for property in Mangalapuram Padasalai Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Mangalapuram Padasalai Street?

The registration for Mangalapuram Padasalai Street is handled by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the other streets with the same guideline value in Ambattur?

Other streets in Ambattur with the same guideline value of Rs 2,500 per sq.ft include Mangalapuram Padalaru Street, Mangalapuram Periyar 2nd Street, Mangalapuram Nalla Kinaru street, Mangalapuram pillaiar koil Street, Mangalapuram Kullan Street, and Mangalapuram Thiru-vi-ka Street.