Guideline Value for MANGALAM NAGAR

Mangalam Nagar guideline value

The current guideline value of Mangalam Nagar, located in Arasankalani village under the Selaiyur SRO, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mangalam Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease of 33% to Rs 1,005 per sq.ft. Following this, the value increased significantly by 49% in the 2023 revision to Rs 1,500 per sq.ft. The most recent 2024 revision has increased the guideline value by 10% to Rs 1,650 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft, with a median value of Rs 2,100 per sq.ft. The guideline value of Mangalam Nagar is below this median.

• Majestic Square: Rs 2,100 per sq.ft (2024)
• Mahalakshmi Nagar Phase-II: Rs 2,200 per sq.ft (2024)
• Mahalakshmi Nagar Phase-I: Rs 2,200 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Meenakshi Street: Rs 1,300 per sq.ft (2024)
• Leo Crusher Estate: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangalam Nagar?

The Sub Registrar Office that covers Mangalam Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Arasankalani

The guideline value is a crucial factor during property registration in Arasankalani. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Mangalam Nagar?

The current guideline value of Mangalam Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Mangalam Nagar?

The land classification for Mangalam Nagar is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Mangalam Nagar?

The Selaiyur Sub Registrar Office covers Mangalam Nagar, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Mangalam 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 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.