Guideline Value for Mandaiveli Street/Maheswari Avenue

Mandaiveli Street/Maheswari Avenue guideline value

The current guideline value for Mandaiveli Street/Maheswari Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Mandaiveli Street/Maheswari Avenue has changed

The guideline value for Mandaiveli Street/Maheswari Avenue has undergone several revisions. The earliest recorded revision was in 2017, where the guideline value was Rs 1,340 per sq.ft. The most recent revision in 2024 shows a significant increase to Rs 2,200 per sq.ft, marking a change of +64% from the 2017 figure.

There are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street, indicating that the guideline value remained unchanged during those revisions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,750 per sq.ft, which means that Mandaiveli Street/Maheswari Avenue's 2024 guideline value is below the median.

• Mandaiveli Street: Rs 2,200 per sq.ft (2024)
• Mandaiveli Thoppu Main 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)
• Maheswari Avenue/Mandaiveli Street: Rs 2,200 per sq.ft (2024)
• Maheshwari Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mandaiveli Street/Maheswari Avenue

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. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mandaiveli Street/Maheswari Avenue?

The Sub Registrar Office that covers Mandaiveli Street/Maheswari Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, which are necessary for legal ownership transfer.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied. Therefore, understanding the guideline value is crucial for both buyers and sellers in this area.

Frequently asked questions

What is the current guideline value of Mandaiveli Street/Maheswari Avenue?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a change of +64%.

Are there any years with no recorded figures for this street?

Yes, the register has no figures for Mandaiveli Street/Maheswari Avenue for the years 2023, 2012, 2007, 2003, and 2002.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total costs would be Rs 1,98,000.

Which office handles registrations for Mandaiveli Street/Maheswari Avenue?

The Velacheri Sub Registrar Office is responsible for handling registrations for Mandaiveli Street/Maheswari Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.