Guideline Value for Mangalam Medu

Mangalam Medu guideline value

The current guideline value of Mangalam Medu is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Thirukalukundrem A village, under the Thirukazhukundram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Mangalam Medu has changed

In the 2017 revision, the guideline value was set at Rs 402 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 600 per sq.ft. From 2017 to 2023, there was a significant increase of 49%. The latest revision in 2024 again set the guideline value at Rs 600 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Thirukalukundrem A

In Thirukalukundrem A, there are 149 streets under the Thirukazhukundram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,344 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which matches the guideline value of Mangalam Medu.

• Mangalam West Street (Palla Mangalam): Rs 600 per sq.ft (2024)
• Mandapam Street: Rs 700 per sq.ft (2024)
• Mamallapuram Salai (Payaniyar viduthi varai): Rs 805 per sq.ft (2024)
• Mamallapuram Salai (Payaniyar viduthi Muthal Kothimangalam Arampa Ellai varai): Rs 1,005 per sq.ft (2024)
• Mamallapuram Salai (Karuneekar Thottam): Rs 600 per sq.ft (2024)
• Malayappa Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalam Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mangalam Medu?

The Sub Registrar Office that covers Mangalam Medu is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Thirukalukundrem A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Mangalam Medu?

The current guideline value of Mangalam Medu is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023 and remained the same in 2024, reflecting a 49% increase over the period from 2017 to 2024.

What are the other streets in Thirukalukundrem A?

Other streets in Thirukalukundrem A include Mangalam West Street, Mandapam Street, Mamallapuram Salai, and Malayappa Nagar, with guideline values ranging from Rs 300 to Rs 1,005 per sq.ft.

How is stamp duty calculated in Mangalam Medu?

Stamp duty in Mangalam Medu is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

Where can I find the Sub Registrar Office for Mangalam Medu?

The Sub Registrar Office for Mangalam Medu is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.