Guideline Value for SRI ALAMELU MANGA PURAM COLONY

Sri Alamelu Manga Puram Colony guideline value

The current guideline value of Sri Alamelu Manga Puram Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This colony is located in Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Sri Alamelu Manga Puram Colony has changed

The guideline value for Sri Alamelu Manga Puram Colony has undergone several revisions. In the 2017 revision, the guideline value was set at Rs 2,010 per sq.ft. The most recent 2024 revision increased this value to Rs 3,300 per sq.ft, reflecting a significant increase of 64% since the last revision.

It is important to note that the register has no figures for this street for the years 2023, 2012, 2007, 2003, and 2002. Therefore, the only available figures are from the 2017 and 2024 revisions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value of Sri Alamelu Manga Puram Colony above this median.

• Sri Alamelumangapuram Colony Part III: Rs 3,300 per sq.ft (2024)
• S.R. Boopathy Nagar Part 2: Rs 2,200 per sq.ft (2024)
• S.R. Boopathy Nagar Part 1: Rs 2,200 per sq.ft (2024)
• S.R. Boopathy Nagar (Grama Nadunchalai 38th Cross Street): Rs 2,200 per sq.ft (2024)
• S.P.Velu Street: Rs 2,200 per sq.ft (2024)
• Spring Garden 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Alamelu Manga Puram Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Alamelu Manga Puram Colony?

The Sub Registrar Office that covers Sri Alamelu Manga Puram Colony is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Sri Alamelu Manga Puram Colony?

The current guideline value of Sri Alamelu Manga Puram Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, going from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024.

What is the land classification of Sri Alamelu Manga Puram Colony?

Sri Alamelu Manga Puram Colony is classified as Residential Class II Type - I.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for property in Sri Alamelu Manga Puram Colony?

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