Guideline Value for MANDALAM STREET (ROAD)

Mandalam Street (Road) guideline value

The current guideline value of Mandalam Street (Road) in Thiruvanmiyur village is Rs 3,520 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class V Type - III.

How the guideline value of Mandalam Street (Road) has changed

The guideline value for Mandalam Street (Road) has seen several revisions over the years. In 2002, the value was Rs 899 per sq.ft, which increased to Rs 995 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,300 per sq.ft in 2007, reflecting a 31% increase. By 2012, the guideline value had significantly increased to Rs 3,200 per sq.ft, representing a 146% rise. However, it dropped to Rs 2,144 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, followed by a final increase to Rs 3,520 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 292%. Notably, there are no figures available for the revisions in years other than those listed.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Mandalam Street (Road) below this median.

• Malavia Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 4th Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 3rd Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 2nd Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 1st Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 1st Cross Street: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Mandalam Street (Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. 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 further calculations.

Which Sub Registrar Office covers Mandalam Street (Road)?

The Sub Registrar Office that covers Mandalam Street (Road) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

During the registration of property, the authorities will assess the guideline value to ensure that the correct fees are collected. This ensures transparency in the property transaction process and helps in maintaining accurate records.

Frequently asked questions

What is the current guideline value of Mandalam Street (Road)?

The current guideline value of Mandalam Street (Road) is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 899 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting a total increase of 292% over this period.

What is the classification of Mandalam Street (Road)?

Mandalam Street (Road) is classified as Residential Class V Type - III under the Chennai South Joint I SRO.

What are the stamp duty and registration fees for property in Mandalam Street (Road)?

For a 1,000 sq.ft property, the total guideline value is Rs 35,20,000. The stamp duty is Rs 2,46,400 and the registration fee is Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office covers Mandalam Street (Road)?

The Chennai South Joint I Sub Registrar Office covers Mandalam Street (Road), located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.