Guideline Value for Mangali Neethiman Nagar 5th Street

Mangali Neethiman Nagar 5th Street guideline value

The current guideline value of Mangali Neethiman Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mangali Neethiman Nagar 5th Street has changed

The guideline value for Mangali Neethiman Nagar 5th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, with a guideline value of Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. The value remained unchanged at Rs 3,000 per sq.ft until the next revision in 2023.

In 2023, the guideline value was updated to Rs 3,300 per sq.ft, reflecting a 10% increase. The current figure of Rs 3,300 per sq.ft from the 2024 revision is consistent with the median value of Rs 3,300 per sq.ft for other streets in Kolathur under the Sembiam SRO. 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, with a median value of Rs 3,300 per sq.ft. Mangali Neethiman Nagar 5th Street's 2024 guideline value aligns with this median.

• Mangali Neethiman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mangali Neethiman Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Mangali Neethiman Nagar 5th Street?

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

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

The guideline value is a critical factor when registering property in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer purchases property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps prevent undervaluation of properties.

Frequently asked questions

What is the current guideline value of Mangali Neethiman Nagar 5th Street?

The current guideline value of Mangali Neethiman Nagar 5th 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 230%.

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

Other streets in Kolathur with a guideline value of Rs 3,300 per sq.ft include Mangali Neethiman Nagar 2nd, 3rd, 4th, 6th, 7th, and 8th Streets.

Where can I find the Sembiam Sub Registrar Office?

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

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.