Guideline Value for Thirumangai Mannan Street

Thirumangai Mannan Street guideline value

The current guideline value of Thirumangai Mannan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Thirumangai Mannan Street has changed

The guideline value for Thirumangai Mannan Street has seen several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 has increased the value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between the revisions reflect a 49% increase from 2017 to 2023, a decrease of 33% from 2012 to 2017, and an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

Chitlapakkam village has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, placing Thirumangai Mannan Street's 2024 figure above this median.

• ThirumuruganNagar ramanar street: Rs 2,750 per sq.ft (2024)
• Thirumurugan Salai: Rs 3,850 per sq.ft (2024)
• Thirumurugan Street: Rs 3,850 per sq.ft (2024)
• Thirunavukkasu Street: Rs 1,650 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,650 per sq.ft (2024)
• Thirumagal Nagar Ist Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thirumangai Mannan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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 more information on calculating these fees.

Which Sub Registrar Office covers Thirumangai Mannan Street?

The Sub Registrar Office that covers Thirumangai Mannan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when formalizing a property sale.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thirumangai Mannan Street?

The current guideline value of Thirumangai Mannan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Thirumangai Mannan Street?

The land classification for Thirumangai Mannan Street is Residential Class I Type - II.

Where is the Tambaram Joint 1 SRO located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Thirumangai Mannan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.