Guideline Value for MANDAVELI STREET

Mandaveli Street guideline value

The current guideline value of Mandaveli Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class III Type - III.

How the guideline value of Mandaveli Street has changed

The guideline value for Mandaveli Street has seen several revisions over the years. In 2002, the value was Rs 1,566 per sq.ft. It increased to Rs 1,971 per sq.ft in 2003, marking a 26% rise. The value continued to rise, reaching Rs 2,365 per sq.ft in 2007, which was a 20% increase from the previous revision. By 2012, the value dropped to Rs 8,000 per sq.ft, reflecting a decrease of 33% from 2017's figure of Rs 5,360 per sq.ft. The value then rose to Rs 8,000 per sq.ft in 2012, before seeing a significant increase to Rs 5,360 per sq.ft in 2017, which was a 49% increase from the previous revision.

In 2023, the guideline value was Rs 8,000 per sq.ft, and it increased to Rs 8,800 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 462%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is the same as the current value for Mandaveli Street.

• Mandaveli Lane: Rs 8,800 per sq.ft (2024)
• Maleeswaran Koil Street: Rs 9,300 per sq.ft (2024)
• Manickam Avenue: Rs 8,200 per sq.ft (2024)
• Malaiappan Street: Rs 8,200 per sq.ft (2024)
• Makkan Dharga Ground: Rs 3,300 per sq.ft (2024)
• Mannkollai: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Mandaveli Street

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mandaveli Street?

The Sub Registrar Office that covers Mandaveli Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process. When a property is registered, the guideline value is used to assess the applicable charges.

Buyers and sellers should be aware that the guideline value may influence the final sale price of the property. It is essential to consult the guideline value register to understand the applicable rates and ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Mandaveli Street?

The current guideline value of Mandaveli Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,566 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 462%.

What is the median guideline value in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which is the same as the current value for Mandaveli Street.

What are the stamp duty and registration fees for properties in Mandaveli Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where can I find the Sub Registrar Office for Mandaveli Street?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.