Guideline Value for MANDAIVELI AMMAN KOVIL STREET

Mandaiveli Amman Kovil Street guideline value

The current guideline value of Mandaiveli Amman Kovil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Mandaiveli Amman Kovil Street has changed

The guideline value for Mandaiveli Amman Kovil Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 280 per sq.ft. This increased to Rs 346 per sq.ft in 2003, marking a change of +24%. The value continued to rise significantly to Rs 1,100 per sq.ft in 2007, reflecting an increase of +218%. In 2012, the value was recorded at Rs 2,500 per sq.ft, which was a substantial increase of +127% from the previous revision. However, in 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of -33%.

In the subsequent years, the guideline value rose again, reaching Rs 2,500 per sq.ft in 2023, which was a significant increase of +49% from 2017. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a change of +10% from the previous year. The register has no figures for any other years apart from those mentioned.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, and Mandaiveli Amman Kovil Street's 2024 figure is below this median.

• M.A.Koil 3rd Street: Rs 1,950 per sq.ft (2024)
• Mahavishnu Street: Rs 3,100 per sq.ft (2024)
• Maha Vishnu Salai: Rs 3,100 per sq.ft (2024)
• Mahaver Garden: Rs 3,550 per sq.ft (2024)
• Maharaja Garden: Rs 3,550 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mandaiveli Amman Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total Rs 2,47,500. 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 information.

Which Sub Registrar Office covers Mandaiveli Amman Kovil Street?

The Sub Registrar Office that covers Mandaiveli Amman Kovil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mandaiveli Amman Kovil Street?

The current guideline value of Mandaiveli Amman Kovil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 280 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of +882% over the years.

What is the land classification for Mandaiveli Amman Kovil Street?

The land classification for Mandaiveli Amman Kovil Street is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Mandaiveli Amman Kovil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Mandaiveli Amman Kovil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000, leading to a stamp duty of Rs 1,92,500.