Guideline Value for MANGAL NAGAR

Mangal Nagar guideline value

The current guideline value of Mangal Nagar, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 2,001 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

How the guideline value of Mangal Nagar has changed

The guideline value for Mangal Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,001 per sq.ft, which is a slight increase from Rs 2,000 per sq.ft in 2023. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 is also a 49% increase. The stability in the value from 2023 to 2024 indicates no change during that period.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Mangal Nagar's 2024 guideline value of Rs 2,001 per sq.ft is above this median.

• Manimegalai Street: Rs 2,001 per sq.ft (2024)
• Maharaja Nagar: Rs 1,500 per sq.ft (2024)
• Mahalakshmi Street: Rs 2,001 per sq.ft (2024)
• Masoothi Street: Rs 1,500 per sq.ft (2024)
• Meenakshi Nagar (Near G.S.T. Road): Rs 3,500 per sq.ft (2024)
• Meenakshi Nagar (S.No. 174/1 -6): Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Mangal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would be Rs 1,40,070, and the registration fee at 2% would be Rs 40,020, bringing the total to Rs 1,80,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangal Nagar?

The Mangal Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a standardized value.

When a property is sold, the guideline value is used to determine the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Mangal Nagar?

The current guideline value of Mangal Nagar is Rs 2,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, marking a 49% increase over this period. There was no change from 2023 to 2024.

What is the registration office for Mangal Nagar?

The registration office for Mangal Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mangal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 20,01,000, the stamp duty would be Rs 1,40,070 at a rate of 7%.

What are the guideline values for other streets in Gooduvancheri?

Other streets in Gooduvancheri have varying guideline values. For instance, Manimegalai Street and Mahalakshmi Street both have a guideline value of Rs 2,001 per sq.ft, while Maharaja Nagar and Masoothi Street are valued at Rs 1,500 per sq.ft.