Guideline Value for MANGALAMBIGAI @ MANGALAPURI NAGAR

Mangalambigai @ Mangalapuri Nagar guideline value

The current guideline value for Mangalambigai @ Mangalapuri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mangalambigai @ Mangalapuri Nagar has changed

The guideline value for Mangalambigai @ Mangalapuri Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 500%. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Mangalambigai @ Mangalapuri Nagar.

• Mangalambigai Nagar: Rs 3,900 per sq.ft (2024)
• MANGALAMBIGAI NAGAR 3rd STREET: Rs 3,900 per sq.ft (2024)
• MANGALAMBIGAI NAGAR 4th STREET: Rs 3,900 per sq.ft (2024)
• MANGALAMBIGAI NAGAR 5th STREET: Rs 3,900 per sq.ft (2024)
• Mangalambigai Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Mangalambigai Nagar Main Road (C.L.Metha Salai): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalambigai @ Mangalapuri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Mangalambigai @ Mangalapuri Nagar?

The Sub Registrar Office that covers Mangalambigai @ Mangalapuri Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value as per the government’s assessments.

When you approach the registration office, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the property transaction process.

Frequently asked questions

What is the current guideline value for Mangalambigai @ Mangalapuri Nagar?

The current guideline value for Mangalambigai @ Mangalapuri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560%.

What are the stamp duty and registration fees for a property in Mangalambigai @ Mangalapuri Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in this area?

The Neelankarai Sub Registrar Office handles property registrations for Mangalambigai @ Mangalapuri Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the importance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.