Guideline Value for Mangalapuri

Mangalapuri guideline value

The current guideline value of Mangalapuri in Thirumudivakkam village is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Mangalapuri has changed

The guideline value for Mangalapuri has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased it to Rs 1,200 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The transition from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 660 to Rs 3,860 per sq.ft. The median value is Rs 1,320 per sq.ft, which is the same as the guideline value for Mangalapuri.

• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 1,320 per sq.ft (2024)
• Maha Kavi Bharathi Nagar: Rs 1,320 per sq.ft (2024)
• Mahadevan Street: Rs 1,320 per sq.ft (2024)
• Meenatchi Amman Nagar: Rs 660 per sq.ft (2024)
• Lakshmi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuri

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangalapuri?

The Mangalapuri area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Thirumudivakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is a key factor in calculating the financial obligations associated with property transactions.

When a property is bought or sold, the guideline value is considered to ensure that the transaction is recorded accurately and legally. This value helps in maintaining transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mangalapuri?

The current guideline value of Mangalapuri is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the classification of land in Mangalapuri?

The land in Mangalapuri is classified as Residential Special Type - I.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mangalapuri?

Stamp duty for properties in Mangalapuri is calculated based on the guideline value or the sale price, whichever is higher. The current stamp duty rate is 7% of the guideline value.