Guideline Value for Mangali Neethiman Nagar 4th Street

Mangali Neethiman Nagar 4th Street guideline value

The current guideline value of Mangali Neethiman Nagar 4th Street is Rs 3,300 per sq.ft. This street is located in Kolathur village, under the Sembiam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Mangali Neethiman Nagar 4th Street has changed

The guideline value for Mangali Neethiman Nagar 4th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 raised the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 230%. It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Mangali Neethiman Nagar 4th Street.

• Mangali Neethiman Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mangali Neethiman Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mangali Neethiman Nagar 4th Street?

The Sub Registrar Office that covers Mangali Neethiman Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of Mangali Neethiman Nagar 4th Street?

The current guideline value of Mangali Neethiman Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the stamp duty rate for property in Mangali Neethiman Nagar 4th Street?

The stamp duty rate for property transactions in Mangali Neethiman Nagar 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees payable during a property transaction.