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 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, 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 was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 1,321 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Rani Mangammal Street's 2024 figure above that median.

• Ramasamy Padayachiar Salai (Ward -8): Rs 1,321 per sq.ft (2024)
• Ramanujar Street (Ward -4): Rs 1,321 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)
• Rajivgandhi Street (Ward -4): Rs 1,760 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further assistance.

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 Ninna Karai

The guideline value is a crucial factor when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. The guideline value is typically used to assess the value of the property for taxation purposes.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately in the official register. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer 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 1,321 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 2023 to Rs 1,321 per sq.ft in 2024. It increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, marking a significant rise of 49%.

What is the land classification of Rani Mangammal Street?

The land classification for Rani Mangammal Street (Ward -8) is Residential Special Type - V.

What are the stamp duty and registration fees for property on this street?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890.

Which office handles registrations for Rani Mangammal Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Rani Mangammal Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.