Guideline Value for Mandaiveli Street

Mandaiveli Street guideline value

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

How the guideline value of Mandaiveli Street has changed

The guideline value for Mandaiveli Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which shows a significant increase from Rs 1,340 per sq.ft recorded in the 2017 revision. This represents a change of +64% from the previous revision.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. The last recorded figure before 2024 was from 2017.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets that have a guideline value as of 2024, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Mandaiveli Street's value below this median.

• Mandaiveli Street/Maheswari Avenue: 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

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

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

Which Sub Registrar Office covers Mandaiveli Street?

The Mandaiveli Street falls under 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 during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is documented at a value that reflects the official rates set by the government. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Mandaiveli Street?

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

How much 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, representing a +64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification of Mandaiveli Street?

Mandaiveli Street is classified as Residential Class II Type - I. This classification is important for understanding the permissible uses of the land.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. This office handles the registration of properties in the area.