Guideline Value for Mangalapuram Periyar 2nd Street

Mangalapuram Periyar 2nd Street guideline value

The current guideline value of Mangalapuram Periyar 2nd 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 Periyar 2nd Street has changed

The guideline value for Mangalapuram Periyar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision increased the value to Rs 2,300 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9% despite the dip observed between 2012 and 2017.

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, with a median value of Rs 3,600 per sq.ft. The guideline value of Mangalapuram Periyar 2nd Street is below this median.

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

Stamp duty and registration fee for property in Mangalapuram Periyar 2nd 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 to Rs 2,25,000. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Mangalapuram Periyar 2nd Street?

The Sub Registrar Office that covers Mangalapuram Periyar 2nd Street is 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 online for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Ambattur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

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 actual sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Mangalapuram Periyar 2nd Street?

The current guideline value of Mangalapuram Periyar 2nd 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 back 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 Periyar 2nd Street?

Mangalapuram Periyar 2nd Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees based on the guideline value?

Stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles the registration for Mangalapuram Periyar 2nd Street?

The Ambattur Sub Registrar Office handles the registration for Mangalapuram Periyar 2nd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.