Guideline Value for Mandabam Street

Mandabam Street guideline value

The current guideline value of Mandabam Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Mandabam Street has changed

Over the years, the guideline value of Mandabam Street has seen significant changes. The earliest recorded revision was in 2007, with a value of Rs 320 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 369%. However, in 2017, the value decreased to Rs 1,005 per sq.ft, which was a decline of 33%. The value then increased again to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,650 per sq.ft in 2024, representing a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

From 2007 to 2024, the overall change in the guideline value is an increase of 416%. The 2017 revision saw a significant increase of 49% to Rs 1,500 per sq.ft in 2023. The current rate of Rs 1,650 per sq.ft is above the median rate of Rs 1,100 per sq.ft for the 172 streets in Thiruvallur under the Tiruvallur Joint 1 SRO.

Guideline values in Thiruvallur

In Thiruvallur village, the guideline values for various streets range from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. Mandabam Street's 2024 guideline value of Rs 1,650 per sq.ft is notably above this median.

• Manimegalai Street: Rs 1,100 per sq.ft (2024)
• Maniyammaiyar Street: Rs 1,100 per sq.ft (2024)
• Maraimalaiadikalar Street: Rs 1,100 per sq.ft (2024)
• Marappan Street: Rs 1,100 per sq.ft (2024)
• Meenatchi Nagar: Rs 1,650 per sq.ft (2024)
• Langakara Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mandabam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees would total Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mandabam Street?

The Sub Registrar Office that covers Mandabam Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Thiruvallur. It helps determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is essential to keep in mind that the fees are based on the higher of the guideline value or the actual sale price, ensuring that the appropriate amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Mandabam Street?

The current guideline value of Mandabam Street is Rs 1,650 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 320 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 416% over the years.

What is the stamp duty for property in Mandabam Street?

The stamp duty for property in Mandabam Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500.

Which office handles property registration for Mandabam Street?

The Tiruvallur Joint 1 Sub Registrar Office handles property registration for Mandabam Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

What is the land classification for Mandabam Street?

The land classification for Mandabam Street is Residential Class I Type - I, which indicates its suitability for residential purposes.