Guideline Value for RATHINA MANGALA NAGAR

Rathina Mangala Nagar guideline value

The current guideline value of Rathina Mangala Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rathina Mangala Nagar has changed

Over the years, the guideline value for Rathina Mangala Nagar has seen several revisions. The 2007 revision set the value at Rs 205 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. This was a rise of 144%. However, in the subsequent 2017 revision, the value decreased to Rs 335 per sq.ft, marking a reduction of 33%. From 2017 to 2023, the value remained stable at Rs 500 per sq.ft, reflecting a 49% increase from the previous figure. The current guideline value remains unchanged from the 2023 revision.

It is worth noting that the register has no figures for the years 2002 and 2003 for this street. Thus, the most recent revision prior to 2007 was not available. Overall, from 2007 to 2024, the guideline value has increased by 144%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Rathina Mangala Nagar's 2024 figure below this median.

• Sai Avenue: Rs 700 per sq.ft (2024)
• Rajajipuram: Rs 500 per sq.ft (2024)
• Rajaji Nagar: Rs 800 per sq.ft (2024)
• Rajaji Avenue: Rs 800 per sq.ft (2024)
• Radiant Avenue: Rs 2,500 per sq.ft (2024)
• Selvi Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Rathina Mangala Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rathina Mangala Nagar?

The Sub Registrar Office that covers Rathina Mangala Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Perumattu Nellore

The guideline value plays a crucial role in property transactions in Perumattu Nellore. It is used as a basis for calculating the stamp duty and registration fees payable during the registration process. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When purchasing property, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration. This ensures that the transaction is compliant with local regulations and that the necessary fees are accurately calculated.

Frequently asked questions

What is the current guideline value of Rathina Mangala Nagar?

The current guideline value of Rathina Mangala Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 205 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft since 2023.

What are the other streets in Perumattu Nellore?

Other streets in Perumattu Nellore include Sai Avenue at Rs 700 per sq.ft, Rajajipuram at Rs 500 per sq.ft, and Radiant Avenue at Rs 2,500 per sq.ft, among others.

How is stamp duty calculated in Rathina Mangala Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty at 7% would be Rs 35,000.

Where can I find the Sub Registrar Office for Rathina Mangala Nagar?

The Sub Registrar Office for Rathina Mangala Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.