Guideline Value for Mangala Nagar

Mangala Nagar guideline value

The current guideline value of Mangala Nagar, located in Nallur village under the Sriperumpudur SRO, is Rs 175 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

The guideline value for Mangala Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft. This increased to Rs 175 per sq.ft in 2012, representing a 75% rise. However, the value dropped to Rs 117 per sq.ft in the 2017 revision, marking a decrease of 33%. The 2023 revision maintained the value at Rs 175 per sq.ft, and the same value has been retained in the 2024 revision, indicating no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 75%.

Guideline values in Nallur

Nallur village has a total of 33 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 126 to Rs 700 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Mangala Nagar is below this median.

• Krishna nagar: Rs 350 per sq.ft (2024)
• KJR nagar: Rs 350 per sq.ft (2024)
• Kariman Nagar: Rs 150 per sq.ft (2024)
• New Tambaram Avenue: Rs 450 per sq.ft (2024)
• NT nagar Extension: Rs 700 per sq.ft (2024)
• Indra Nagar part - II: Rs 250 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 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, making a total of Rs 15,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangala Nagar?

The Sub Registrar Office that covers Mangala Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It ensures that both parties are aware of the official valuation, which is essential for legal and financial purposes during the registration process.

Frequently asked questions

What is the current guideline value of Mangala Nagar?

The current guideline value of Mangala Nagar is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing a value of Rs 175 per sq.ft in 2023 and 2024. The value was Rs 117 per sq.ft in 2017 and Rs 175 per sq.ft in 2012.

What is the land classification of Mangala Nagar?

Mangala Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot at the guideline value of Rs 175 per sq.ft, the total guideline value is Rs 1,75,000. The stamp duty would be Rs 12,250, and the registration fee would be Rs 3,500, totaling Rs 15,750.

Which office handles property registrations in Mangala Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Mangala Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.