Guideline Value for RANI MANGAMMAL STREET (WARD -8)

Rani Mangammal Street (Ward -8) guideline value

The current guideline value of Rani Mangammal Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Rani Mangammal Street (Ward -8) has changed

The guideline value for Rani Mangammal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft. Following this, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, and then further increased to Rs 1,320 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

When examining the changes, the guideline value increased by 49% from 2017 to 2023 and saw a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. This reflects a notable fluctuation in the values over the years.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Rani Mangammal Street's 2024 figure above this median.

• Rathinam Nagar: Rs 2,750 per sq.ft (2024)
• Ramasamy Padayachiar Salai (Ward -8): Rs 1,320 per sq.ft (2024)
• Ramanujar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Ramanayakkan Street (Ward -19): Rs 660 per sq.ft (2024)
• Roshan Babu Nagar (Ward -19): Rs 660 per sq.ft (2024)
• Rukumani Nagar (N): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Mangammal Street (Ward -8)

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these charges would be Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rani Mangammal Street (Ward -8)?

The Sub Registrar Office that covers Rani Mangammal Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions. It is essential for both buyers and sellers to understand how the guideline value impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Rani Mangammal Street (Ward -8)?

The current guideline value of Rani Mangammal Street (Ward -8) is Rs 1,320 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 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification for Rani Mangammal Street?

The land classification for Rani Mangammal Street (Ward -8) is Residential Special Type - V. This classification is important for understanding the zoning and usage of the land.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Kattankollatur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.