Guideline Value for Mandapam 1st lane

Mandapam 1st lane guideline value

The current guideline value of Mandapam 1st lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Mandapam 1st lane has changed

Over the years, the guideline value for Mandapam 1st lane has seen several revisions. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 4,355 per sq.ft. The 2023 revision raised it to Rs 6,500 per sq.ft again, and the most recent 2024 revision has set the value at Rs 7,100 per sq.ft.

From the 2017 to 2023 revision, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 255%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the guideline value of Mandapam 1st lane.

• Mandapam 2nd lane: Rs 7,100 per sq.ft (2024)
• Mandapam 3rd lane: Rs 7,100 per sq.ft (2024)
• Mandapam 4th lane: Rs 7,100 per sq.ft (2024)
• Mandapam 5th lane: Rs 7,100 per sq.ft (2024)
• Mandapam 6th lane: Rs 7,100 per sq.ft (2024)
• Mandapam Cross Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mandapam 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mandapam 1st lane?

The Sub Registrar Office that covers Mandapam 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Egmore. It is used to calculate the stamp duty and registration fees, which are mandatory charges during the transaction.

When a property is registered, the guideline value serves as a benchmark for determining the applicable fees. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the fees reflect the property's worth.

Frequently asked questions

What is the current guideline value of Mandapam 1st lane?

The current guideline value of Mandapam 1st lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Mandapam 1st lane?

Mandapam 1st lane is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Mandapam 1st lane?

The Sub Registrar Office for Mandapam 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Mandapam 1st lane?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Registration fees are also applicable at 2% of the guideline value.