Guideline Value for Mandapam 2nd lane

Mandapam 2nd lane guideline value

The current guideline value of Mandapam 2nd lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Mandapam 2nd lane has changed

The guideline value for Mandapam 2nd lane has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 2,000 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, marking a 225% rise. However, it then decreased to Rs 4,355 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,100 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 255%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the 2024 figure for Mandapam 2nd lane.

• Mandapam 1st 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 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mandapam 2nd lane?

The Sub Registrar Office that covers Mandapam 2nd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of this value to ensure they are not overpaying for a property based on its market price.

Frequently asked questions

What is the current guideline value of Mandapam 2nd lane?

The current guideline value of Mandapam 2nd 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, reflecting a total increase of 255% over the years.

What is the land classification for Mandapam 2nd lane?

Mandapam 2nd lane is classified as Residential Class II Type - I.

Where can I find the registration office for Mandapam 2nd lane?

The registration office for Mandapam 2nd lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.