Guideline Value for Mangalapuram

Mangalapuram guideline value

The current guideline value for Mangalapuram is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mangalapuram has changed

The guideline value of Mangalapuram has seen several revisions over the years. The register shows that in 2002, the value was Rs 305 per sq.ft, which increased to Rs 450 per sq.ft in 2003. Following this, the value rose to Rs 500 per sq.ft in 2007, and then experienced a significant increase to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The value was revised to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision.

In terms of percentage changes, the guideline value increased by 48% from 2002 to 2003, followed by an 11% rise from 2003 to 2007. The value then surged by 300% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 621%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Mangalapuram is below this median.

• Mangalapuram 1st St: Rs 2,200 per sq.ft (2024)
• Mangalapuram 2nd St: Rs 2,200 per sq.ft (2024)
• Malliga Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Malliga Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Manthoppu Street (Brindavan Avenue): Rs 4,400 per sq.ft (2024)
• Mariammankoil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Mangalapuram?

The Sub Registrar Office that covers Mangalapuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Mangalapuram?

The current guideline value of Mangalapuram is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 305 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 621% over this period.

What is the land classification of Mangalapuram?

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

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

The stamp duty is charged at 7%, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Mangalapuram located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.