Guideline Value for SIVA MANGALA NAGAR

Siva Mangala Nagar guideline value

The current guideline value of Siva Mangala Nagar, located in Perumattu Nellore village, is Rs 700 per sq.ft. This value is effective from the 2024 revision, which is managed by the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Siva Mangala Nagar has changed

The guideline value for Siva Mangala Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 210 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, this value saw a decrease of 33% to Rs 469 per sq.ft in the 2017 revision. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 700 per sq.ft, showing no change from one year to the next.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are a total of 83 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 500 to Rs 2,850 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the current guideline value of Siva Mangala Nagar.

• Shriram Shankari: Rs 700 per sq.ft (2024)
• Shree Kanniga Parameswari Nagar: Rs 500 per sq.ft (2024)
• Shanthi Nagar: Rs 700 per sq.ft (2024)
• Sree Ambal Nagar: Rs 700 per sq.ft (2024)
• Sree Karumariamman Nagar Extension: Rs 700 per sq.ft (2024)
• Selvi Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Siva Mangala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 details.

Which Sub Registrar Office covers Siva Mangala Nagar?

The Sub Registrar Office that covers Siva 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 is a critical factor in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps prevent undervaluation, which could lead to revenue loss for the state.

Frequently asked questions

What is the current guideline value of Siva Mangala Nagar?

The current guideline value of Siva Mangala Nagar is Rs 700 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 210 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, decreased to Rs 469 per sq.ft in 2017, and remained at Rs 700 per sq.ft in 2023 and 2024.

What are the other streets in Perumattu Nellore with their guideline values?

Other streets in Perumattu Nellore include Shriram Shankari and Shanthi Nagar, both at Rs 700 per sq.ft, Shree Kanniga Parameswari Nagar at Rs 500 per sq.ft, Sree Ambal Nagar and Sree Karumariamman Nagar Extension at Rs 700 per sq.ft, and Selvi Nagar at Rs 800 per sq.ft.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated in Siva Mangala Nagar?

Stamp duty in Siva Mangala Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.