Guideline Value for MANGALAMBIGAI NAGAR

Mangalambigai Nagar guideline value

The current guideline value of Mangalambigai Nagar in Okkiyamthuraipakkam village is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Mangalambigai Nagar has changed

The guideline value for Mangalambigai Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and further rose to Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been an increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making Mangalambigai Nagar's current value above this median.

• Mangalambigai @ Mangalapuri Nagar: Rs 3,300 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. 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 Mangalambigai Nagar?

The Mangalambigai Nagar area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Okkiyamthuraipakkam. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value acts as a benchmark. If the sale price is lower than the guideline value, the higher guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Mangalambigai Nagar?

The current guideline value of Mangalambigai Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification of Mangalambigai Nagar?

Mangalambigai Nagar is classified as Residential Class I Type - II under the Neelankarai SRO.

What are the stamp duty rates for property in Mangalambigai Nagar?

The stamp duty for property transactions in Mangalambigai Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.