Guideline Value for Mangala Nagar

Mangala Nagar guideline value

The current guideline value of Mangala Nagar in Vellerithangal village, under the Gooduvancheri SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Mangala Nagar has changed

Over the years, the guideline value of Mangala Nagar has seen several revisions. The 2007 revision recorded a guideline value of Rs 55 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, it dropped to Rs 167 per sq.ft in 2017. The 2023 revision maintained the value at Rs 250 per sq.ft, which remains unchanged in the 2024 revision, resulting in a 50% increase from 2017 to 2023.

The overall change from the 2007 revision to the current 2024 figure reflects an increase of 355%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vellerithangal

In Vellerithangal, there are 21 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. Mangala Nagar's 2024 guideline value is below this median.

• Mangala Nagar Extn: Rs 250 per sq.ft (2024)
• Mangala Nagar Stage-II: Rs 250 per sq.ft (2024)
• Mangala Nagar Stage-V: Rs 250 per sq.ft (2024)
• Mahasakthi Raja Nagar Extn-I & II: Rs 300 per sq.ft (2024)
• Mahasakthi Raja Nagar: Rs 300 per sq.ft (2024)
• Krishnamohana Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, resulting in a total of Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangala Nagar?

The Sub Registrar Office that covers Mangala Nagar is 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 Vellerithangal

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vellerithangal, the guideline value will be used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property registration. Ensuring that the sale price is at least equal to the guideline value is necessary to comply with registration regulations.

Frequently asked questions

What is the current guideline value of Mangala Nagar?

The current guideline value of Mangala Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 55 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, dropping to Rs 167 per sq.ft in 2017, and then returning to Rs 250 per sq.ft in 2023 and 2024.

What is the median guideline value in Vellerithangal?

The median guideline value in Vellerithangal is Rs 400 per sq.ft, while Mangala Nagar's current value is below this median.

How is stamp duty calculated for properties in Mangala Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft incurs a stamp duty of Rs 17,500.

Where is the Sub Registrar Office for Mangala Nagar located?

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