Guideline Value for South Street

South Street guideline value

The current guideline value of South Street in Mangadu -A village is Rs 1,830 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Class I Type - II.

How the guideline value of South Street has changed

The guideline value for South Street has seen significant changes over the years. In the 2017 revision, the value was Rs 1,107 per sq.ft, which increased to Rs 1,653 per sq.ft in the 2023 revision. The latest revision in 2024 has set the value at Rs 1,830 per sq.ft, marking an increase of 11% from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 65%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for South Street. The transition from Rs 1,107 in 2017 to Rs 1,830 in 2024 reflects a substantial increase over the years.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, indicating that South Street's guideline value is below this median.

• South Mada Street: Rs 1,830 per sq.ft (2024)
• South Kamatchi Nagar: Rs 1,830 per sq.ft (2024)
• South Colony Street: Rs 1,830 per sq.ft (2024)
• South Colony 1st, 2nd & 3rd Street: Rs 1,830 per sq.ft (2024)
• Sree Kamatchi Amman Nagar: Rs 3,300 per sq.ft (2024)
• Sri Ambal City I: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,830 per sq.ft, the total guideline value would be Rs 18,30,000. The stamp duty at 7% would amount to Rs 1,28,100, and the registration fee at 2% would be Rs 36,600, bringing the total fees together to Rs 1,64,700. It is important to note that the 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 South Street?

The Sub Registrar Office that covers South Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher value is used to calculate the associated fees. This ensures that the government receives the correct revenue based on the property's valuation.

Frequently asked questions

What is the current guideline value of South Street?

The current guideline value of South Street is Rs 1,830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,107 per sq.ft in 2017 to Rs 1,830 per sq.ft in 2024, reflecting a total increase of 65% over this period.

What is the registration office for South Street?

The registration office for South Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for a property in South Street?

For a property valued at Rs 18,30,000, the stamp duty would be Rs 1,28,100 and the registration fee would be Rs 36,600, making a total of Rs 1,64,700.

Where can I find more information about guideline values in Mangadu -A?

For more information about guideline values in Mangadu -A, you can refer to the registration department's guideline value register (TNReginet).