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Guideline Value

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Guideline Value for MANDAVELI COLONY 1ST & 2ND STREET

₹1930/sq.ft.

The guideline value for Mandaveli Colony 1st & 2nd Street in Karambakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 1930 per sq.ft, effective 1 July 2024. It was Rs 1750 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karambakkam

Village

Chennai South Joint I

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1930 /sq.ft.
From 1-4-2023 ₹1750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1172 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1750 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹281 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹244 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Mandaveli Colony 1st & 2nd Street

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Mandaveli Colony 1st & 2nd Street guideline value

The current guideline value for Mandaveli Colony 1st & 2nd Street in Karambakkam village is Rs 1,930 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Mandaveli Colony 1st & 2nd Street has changed

The guideline value for Mandaveli Colony 1st & 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 281 per sq.ft in 2003, marking a 15% rise. The value saw a further increase of 25% to Rs 350 per sq.ft in 2007. By 2012, the guideline value was Rs 1,750 per sq.ft, reflecting a significant 400% increase from the previous revision. However, this value decreased by 33% to Rs 1,172 per sq.ft in 2017.

In 2023, the guideline value rose to Rs 1,750 per sq.ft, and then it increased by 10% to the current value of Rs 1,930 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 691%. There are no figures available for any other revisions for this street.

Guideline values in Karambakkam

Karambakkam village has a total of 159 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, which is equal to the current guideline value for Mandaveli Colony 1st & 2nd Street.

Stamp duty and registration fee for property in Mandaveli Colony 1st & 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,930 per sq.ft, the total guideline value amounts to Rs 19,30,000. The stamp duty at 7% would be Rs 1,35,100, and the registration fee at 2% would be Rs 38,600, leading to a total of Rs 1,73,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mandaveli Colony 1st & 2nd Street?

The Sub Registrar Office that covers Mandaveli Colony 1st & 2nd Street 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. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When a property is sold, the guideline value helps in establishing the legal framework for the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Mandaveli Colony 1st & 2nd Street?

The current guideline value of Mandaveli Colony 1st & 2nd Street is Rs 1,930 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 244 per sq.ft in 2002 to Rs 1,930 per sq.ft in 2024, reflecting an overall increase of 691% over the years.

What is the land classification for Mandaveli Colony 1st & 2nd Street?

Mandaveli Colony 1st & 2nd Street is classified as Residential Class III Type - I.

Where can I find the registration office for properties in this area?

The registration office for Mandaveli Colony 1st & 2nd Street 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.

How is stamp duty calculated for properties in Mandaveli Colony 1st & 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,30,000, the stamp duty would be Rs 1,35,100 at 7%.