Guideline Value for Mangammal Colony

Mangammal Colony guideline value

The current guideline value of Mangammal Colony, located in Koyakbedu village under the AnnaNagar SRO, is Rs 3,300 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Mangammal Colony has changed

The guideline value of Mangammal Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, followed by the current value of Rs 3,300 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 is 10%. The 2012 to 2017 revision saw a decrease of 33%, and from 2007 to 2012, there was a considerable rise of 150%. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Koyakbedu

Koyakbedu village features 270 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Mangammal Colony's 2024 figure below this median.

• Mannady Street: Rs 3,300 per sq.ft (2024)
• Malligai Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Mahalingam Street: Rs 3,300 per sq.ft (2024)
• Maghilambu Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Mettu Kulam: Rs 2,200 per sq.ft (2024)
• L bLOCK (WEST)-4TH AVENUE 171 TO 192,KURUNJI COLONY,MULLAI COLONY,NALANDHA FLATS,SINDU FLATS: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mangammal Colony

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 the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangammal Colony?

The Sub Registrar Office that covers Mangammal Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Koyakbedu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. It is essential for both buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mangammal Colony?

The current guideline value of Mangammal Colony 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 1,200 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the land classification for Mangammal Colony?

The land classification for Mangammal Colony is Residential Class I Type - III, indicating its suitability for residential development.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Mangammal Colony?

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