Guideline Value for Mangala Nagar

Mangala Nagar guideline value

The current guideline value of Mangala Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special 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 2002, the value was Rs 363 per sq.ft, which increased to Rs 570 per sq.ft in 2003. A significant rise occurred between 2003 and 2007, where the value jumped by 128% to reach Rs 1,297 per sq.ft. The years following saw the value rise to Rs 3,600 per sq.ft in 2012, but it then decreased by 33% to Rs 2,412 per sq.ft in 2017. The guideline value then increased to Rs 3,600 per sq.ft in 2023, and most recently, it has risen by 10% to Rs 3,960 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 991%. There are no figures available for any revisions other than those listed above for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry 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 guideline value of Mangala Nagar.

• Mangala Nagar 10th Cross Street -1st Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 10th Cross Street -2nd Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 10th Cross Street -3rd Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 10th Cross Street -4th Lane: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 11th Cross Street: Rs 3,960 per sq.ft (2024)
• Mangala Nagar 12th Cross Street - 1st Lane: Rs 3,960 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 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mangala Nagar?

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

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

The guideline value is a crucial factor in the registration process for property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the higher of the guideline value or the sale price is taken into account for calculating the applicable duties and fees. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Mangala Nagar?

The current guideline value of Mangala Nagar 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 changed 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 is the land classification of Mangala Nagar?

Mangala Nagar is classified as Residential Special Type - I, which indicates its designation for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Mangala Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 39,60,000 would incur a stamp duty of Rs 2,77,200 at a rate of 7%.