Guideline Value for Mangala Nagar Annex

Mangala Nagar Annex guideline value

The current guideline value of Mangala Nagar Annex is Rs 3,960 per sq.ft, effective from 1 July 2024. This property is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Mangala Nagar Annex has changed

The guideline value for Mangala Nagar Annex has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 363 per sq.ft. This increased to Rs 570 per sq.ft in 2003, followed by a rise to Rs 1,000 per sq.ft in 2007. In 2012, the value was recorded at Rs 3,600 per sq.ft, but it dropped to Rs 2,412 per sq.ft in 2017. The subsequent revision in 2023 saw a significant increase to Rs 3,600 per sq.ft, and the latest revision in 2024 has set the value at Rs 3,960 per sq.ft.

Changes between these revisions highlight the fluctuations in guideline values. From 2002 to 2003, there was an increase of 57%. The value then rose by 75% from 2003 to 2007. A substantial increase of 260% occurred between 2007 and 2012. However, from 2012 to 2017, the value decreased by 33%. The guideline value then increased by 49% from 2017 to 2023. Finally, from 2023 to 2024, there was an increase of 10%. Overall, the guideline value has increased by 991% from 2002 to 2024.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, which is equal to the current guideline value of Mangala Nagar Annex.

• Mangala Nagar 9th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street - Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 8th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 7th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 6th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 5th Cross Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200. Together, the total fees would be Rs 3,56,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangala Nagar Annex?

The Sub Registrar Office that covers Mangala Nagar Annex is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mangala Nagar Annex?

The current guideline value of Mangala Nagar Annex is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, increasing from Rs 363 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 991% over this period.

What are the stamp duty and registration fees for properties in Mangala Nagar Annex?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which Sub Registrar Office is responsible for Mangala Nagar Annex?

The Kunrathur Sub Registrar Office is responsible for Mangala Nagar Annex, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for property transactions and is essential for calculating the applicable stamp duty and registration fees based on the higher of the guideline value or the sale price.