Guideline Value for Mangali Neethiman Nagar 6th Street

Mangali Neethiman Nagar 6th Street guideline value

The current guideline value for Mangali Neethiman Nagar 6th Street is Rs 3,300 per sq.ft. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Mangali Neethiman Nagar 6th Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 3,000 per sq.ft, marking a change of +200%. The guideline value remained unchanged at Rs 3,000 per sq.ft in the 2023 revision. However, in the 2024 revision, it increased to Rs 3,300 per sq.ft, reflecting a change of +10% from the previous year. Overall, from 2007 to 2024, the guideline value has increased by +230%.

The register has no figures for the years 2002, 2003, and 2017 for this street. Therefore, the only revisions with recorded figures are from 2007, 2012, 2023, and 2024.

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 6th Street.

• Mangali Neethiman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Mangali Neethiman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mangali Neethiman Nagar 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that 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 6th Street?

The Sub Registrar Office that covers Mangali Neethiman Nagar 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the transaction is compliant with local regulations.

When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Mangali Neethiman Nagar 6th Street?

The current guideline value of Mangali Neethiman Nagar 6th 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, marking an overall increase of +230% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office covers Mangali Neethiman Nagar 6th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value in Kolathur?

The median guideline value in Kolathur is Rs 3,300 per sq.ft, which is the same as the current guideline value for Mangali Neethiman Nagar 6th Street.