Guideline Value for Mangalam Nagar

Mangalam Nagar guideline value

The current guideline value of Mangalam Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Mangalam Nagar has changed

The guideline value for Mangalam Nagar has seen significant changes over the years. The 2017 revision set the guideline value at Rs 871 per sq.ft. In 2023, this value increased to Rs 1,300 per sq.ft, marking a 49% rise. The most recent revision in 2024 further increased the value to Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Mangalam Nagar's 2024 figure above this median.

• Manavalan Nagar: Rs 880 per sq.ft (2024)
• Marutham Royal Gardens: Rs 1,840 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 880 per sq.ft (2024)
• Mada Veethi ( East, West, North and South ): Rs 880 per sq.ft (2024)
• Meenambal Street: Rs 550 per sq.ft (2024)
• Lenin Nagar Phase I: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,430 per sq.ft, the guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangalam Nagar?

The Sub Registrar Office that covers Mangalam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. It is essential for buyers and sellers to be aware of the current guideline values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mangalam Nagar?

The current guideline value of Mangalam Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 871 per sq.ft to Rs 1,430 per sq.ft, which is a total increase of 64% over the years.

What was the guideline value in 2023?

In 2023, the guideline value for Mangalam Nagar was Rs 1,300 per sq.ft.

Which Sub Registrar Office should I go to for transactions in Mangalam Nagar?

For transactions in Mangalam Nagar, you should visit the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

The stamp duty for properties in Mangalam Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 14,30,000 would incur a stamp duty of Rs 1,00,100 at 7%.