Guideline Value for sri mangal avenue

Sri Mangal Avenue guideline value

The current guideline value of Sri Mangal Avenue in Ozhalur village is Rs 300 per sq.ft, effective from the 2024 revision. This property falls under the Chengleput Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Mangal Avenue has changed

The guideline value for Sri Mangal Avenue has seen several revisions over the years. In 2012, the value was Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. This was followed by a significant increase to Rs 300 per sq.ft in 2023, and it has remained at that level through the 2024 revision, showing no change from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 300 per sq.ft.

Guideline values in Ozhalur

In Ozhalur, there are 13 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 672 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the guideline value of Sri Mangal Avenue.

• Sri Mangal Avenue Phase - II: Rs 350 per sq.ft (2024)
• Sri Sai Nagar: Rs 250 per sq.ft (2024)
• Sathyamoorthy Nagar: Rs 250 per sq.ft (2024)
• Sakthi Vinayaga Nagar: Rs 250 per sq.ft (2024)
• Sakthi Subbarayan Nagar: Rs 250 per sq.ft (2024)
• Sakthi Nagar: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mangal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Mangal Avenue?

Sri Mangal Avenue is covered by the Chengleput Joint I 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 Ozhalur

The guideline value plays a crucial role in the registration process when buying or selling property in Ozhalur. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the costs involved in the transaction.

When a property is sold, the guideline value is used to determine the official value of the property for registration purposes. This helps maintain transparency and accuracy in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Mangal Avenue?

The current guideline value of Sri Mangal Avenue is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a decrease to Rs 201 per sq.ft in 2017 and an increase back to Rs 300 per sq.ft in 2023.

What is the land classification for Sri Mangal Avenue?

Sri Mangal Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Sri Mangal Avenue?

The registration office covering Sri Mangal Avenue is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Ozhalur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 3,00,000 would incur a stamp duty of Rs 21,000 at 7%.