Guideline Value for MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD

MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD guideline value

The current guideline value for MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village and falls under the Madurandakam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD has changed

The guideline value has experienced several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 250 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, reflecting a significant rise of 300%. However, in 2017, the value dropped to Rs 670 per sq.ft, marking a decrease of 33%. The value then increased to Rs 1,000 per sq.ft in 2023 and further to Rs 1,110 per sq.ft in 2024, which is an increase of 11% from the previous year. There are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 344%. The changes between the revisions highlight the fluctuations in the guideline value, with the most significant increase occurring between 2007 and 2012, and a notable increase from 2023 to 2024.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD above this median.

• Maha Vishnu Nagar: Rs 770 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)
• Maharishi Nagar: Rs 1,110 per sq.ft (2024)
• Maruthi Nagar: Rs 1,110 per sq.ft (2024)
• Meenakchi Amman Koil Street: Rs 1,100 per sq.ft (2024)
• Kutcheri Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, totaling Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD?

The Sub Registrar Office that covers MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as per the official register. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value for MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD?

The current guideline value for MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, marking an overall increase of 344% over this period.

What is the median guideline value for streets in Mathuranthagam?

The median guideline value for streets in Mathuranthagam is Rs 1,100 per sq.ft, with MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD being above this median at Rs 1,110 per sq.ft.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office covering MANDAPAM STREET (a) NEW MANDAPAM STREET (a) POWER STATION ROAD is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,10,000 would incur a stamp duty of Rs 77,700 at 7%.