Guideline Value for Mangalam Nagar

Mangalam Nagar guideline value

The current guideline value for Mangalam Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Vanchuvancheri village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Mangalam Nagar has changed

In the 2007 revision, the guideline value was Rs 50 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 300 per sq.ft, marking a 500% increase. However, in the 2017 revision, the value dropped to Rs 201 per sq.ft, which was a decrease of 33%. The value then increased to Rs 300 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been an increase of 500% in the guideline value for Mangalam Nagar. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Vanchuvancheri

In Vanchuvancheri, there are 23 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Mangalam Nagar is below this median.

• Meenakshipuram: Rs 510 per sq.ft (2024)
• Kurunchi Nagar: Rs 300 per sq.ft (2024)
• Kannan Nagar: Rs 300 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 200 per sq.ft (2024)
• Ganesapuram: Rs 500 per sq.ft (2024)
• Cement Road (Panchayat Road): Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total charges Rs 27,000. 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 further assistance.

Which Sub Registrar Office covers Mangalam Nagar?

The Sub Registrar Office that covers Mangalam 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 Vanchuvancheri

The guideline value is a critical factor in property transactions in Vanchuvancheri. It determines the minimum value at which properties can be registered and is used to calculate the stamp duty and registration fees applicable during the sale or purchase of a property.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Mangalam Nagar?

The current guideline value of Mangalam Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 50 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, followed by Rs 201 per sq.ft in 2017, and remaining at Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Mangalam Nagar?

Mangalam Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

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

The Sub Registrar Office for Mangalam Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.