Guideline Value for Mandaiveli Thoppu Main Street

Mandaiveli Thoppu Main Street guideline value

The current guideline value of Mandaiveli Thoppu Main Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Mandaiveli Thoppu Main Street has changed

The guideline value for Mandaiveli Thoppu Main Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a significant increase from Rs 1,340 per sq.ft in the 2017 revision, representing a change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002.

Prior to the 2017 revision, there are no recorded figures for this street in the guideline value register. The 2017 figure of Rs 1,340 per sq.ft was the first recorded value for this street, and since then, the value has seen a notable increase to the current rate.

Guideline values in Madipakkam-1

In Madipakkam-1 village, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Mandaiveli Thoppu Main Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Mandaiveli Street/Maheswari Avenue: Rs 2,200 per sq.ft (2024)
• Mandaiveli Street: Rs 2,200 per sq.ft (2024)
• Mandaveli Street / Otteri Salai: Rs 3,300 per sq.ft (2024)
• Maniammai Street: Rs 2,200 per sq.ft (2024)
• Manikandan 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Maheswari Avenue/Mandaiveli Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mandaiveli Thoppu Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mandaiveli Thoppu Main Street?

The Mandaiveli Thoppu Main Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering a property in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold or purchased, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Mandaiveli Thoppu Main Street?

The current guideline value of Mandaiveli Thoppu Main Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an increase of +64%. There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Mandaiveli Thoppu Main Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mandaiveli Thoppu Main Street?

The Velacheri Sub Registrar Office covers Mandaiveli Thoppu Main Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It provides a standard reference for both buyers and sellers in the registration process.