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 Panangottur village under the Chengleput Joint II SRO, classified as 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. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 1,200 per sq.ft in the 2023 revision, and then increased by 10% to reach the current value of Rs 1,320 per sq.ft in 2024.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value of Rani Mangammal Street (Ward -8) is above this median.

• 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)
• 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the 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 details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and reflects the value of the property as determined by the government. Understanding the guideline value helps buyers and sellers navigate the registration process smoothly.

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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Rani Mangammal Street?

Rani Mangammal Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 1,18,800.