Guideline Value for Mangapathy Naicken street

Mangapathy Naicken street guideline value

The current guideline value of Mangapathy Naicken street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet SRO, and is classified as Residential Special Type - II.

How the guideline value of Mangapathy Naicken street has changed

The guideline value for Mangapathy Naicken street has seen several revisions over the years. In the 2007 revision, the value was Rs 2,000 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 3,685 per sq.ft, marking a decline of 33%. The 2023 revision brought the value up to Rs 5,500 per sq.ft, and the latest 2024 revision set it at Rs 6,000 per sq.ft, reflecting a 9% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the 2024 guideline value of Mangapathy Naicken street notably above this median.

• Lazzaras church street: Rs 3,300 per sq.ft (2024)
• Lafond street: Rs 3,300 per sq.ft (2024)
• Lafond Lane: Rs 3,300 per sq.ft (2024)
• K.V.M.Colony / Street: Rs 3,300 per sq.ft (2024)
• Kutty Naicken street: Rs 3,300 per sq.ft (2024)
• Mukkiyamman Koil II ndlane: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Mangapathy Naicken street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. Please 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 information.

Which Sub Registrar Office covers Mangapathy Naicken street?

The Sub Registrar Office that covers Mangapathy Naicken street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is used as a benchmark for property transactions in Chindadripet. When buying or selling property, this value determines the stamp duty and registration fees applicable, ensuring that all transactions are conducted fairly and transparently.

At the time of registration, the guideline value serves as the basis for calculating the taxes owed. It is essential for buyers and sellers to be aware of this value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Mangapathy Naicken street?

The current guideline value of Mangapathy Naicken street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

What are the other streets in Chindadripet and their guideline values?

Other streets in Chindadripet include Lazzaras church street, Lafond street, Lafond Lane, K.V.M.Colony / Street, Kutty Naicken street, and Mukkiyamman Koil II ndlane, with values ranging from Rs 2,500 to Rs 3,300 per sq.ft in 2024.

What is the stamp duty for property in Mangapathy Naicken street?

The stamp duty for property in Mangapathy Naicken street is calculated at 7% of the guideline value. For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000.

Which office handles property registration for Mangapathy Naicken street?

The Periamet Sub Registrar Office handles property registration for Mangapathy Naicken street, located at 1103, Poonamallee High Road, Chennai-600 003.