Guideline Value for Mandapam 3rd lane

Mandapam 3rd lane guideline value

The current guideline value of Mandapam 3rd 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 3rd lane has changed

The guideline value for Mandapam 3rd lane has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, it then decreased to Rs 4,355 per sq.ft in 2017. The value rose again to Rs 6,500 per sq.ft in 2023, and finally reached Rs 7,100 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The change from 2023 to 2024 reflects a 9% increase. 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 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 the same as the 2024 figure for Mandapam 3rd lane.

• Mandapam 2nd lane: Rs 7,100 per sq.ft (2024)
• Mandapam 4th lane: Rs 7,100 per sq.ft (2024)
• Mandapam 1st 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 3rd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value is 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, bringing the total fees to Rs 6,39,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mandapam 3rd lane?

The Sub Registrar Office that covers Mandapam 3rd 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 a crucial factor in property transactions in Egmore. It determines the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures that all parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Mandapam 3rd lane?

The current guideline value of Mandapam 3rd 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 an overall increase of 255% over the years.

What is the stamp duty for properties in Mandapam 3rd lane?

The stamp duty for properties in Mandapam 3rd lane is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Mandapam 3rd lane?

The Periamet Sub Registrar Office handles registrations for Mandapam 3rd lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Egmore?

The median guideline value in Egmore is Rs 7,100 per sq.ft, which is the same as the current value for Mandapam 3rd lane.