Guideline Value for Mandapam 5th lane

Mandapam 5th lane guideline value

The current guideline value of Mandapam 5th 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 5th lane has changed

In the 2007 revision, the guideline value was Rs 2,000 per sq.ft. It increased significantly to Rs 6,500 per sq.ft in 2012, marking a 225% rise. However, in the 2017 revision, it decreased to Rs 4,355 per sq.ft, which is a drop of 33%. By the 2023 revision, the value rose again to Rs 6,500 per sq.ft, followed by another increase to Rs 7,100 per sq.ft in 2024, reflecting a 9% rise.

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 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 5th lane.

• Mandapam 4th lane: Rs 7,100 per sq.ft (2024)
• Mandapam 6th lane: Rs 7,100 per sq.ft (2024)
• Mandapam 3rd lane: Rs 7,100 per sq.ft (2024)
• Mandapam Cross Street: Rs 7,100 per sq.ft (2024)
• Mandapam 2nd lane: Rs 7,100 per sq.ft (2024)
• Mandapam Main Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mandapam 5th lane

For a 1,000 sq.ft plot at the current rate, the 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mandapam 5th lane?

The Sub Registrar Office that covers Mandapam 5th 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 critical factor in property transactions in Egmore. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value serves as a benchmark for the minimum value at which properties can be registered.

When selling property, the guideline value is also important as it establishes the legal value of the property for registration purposes. This ensures that all transactions are recorded accurately and reflect the prevailing market conditions as determined by the government.

Frequently asked questions

What is the current guideline value of Mandapam 5th lane?

The current guideline value of Mandapam 5th 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 seen several changes: from Rs 2,000 in 2007 to Rs 6,500 in 2012, then to Rs 4,355 in 2017, and back to Rs 6,500 in 2023, finally reaching Rs 7,100 in 2024.

What is the land classification of Mandapam 5th lane?

Mandapam 5th lane is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Mandapam 5th lane?

The Sub Registrar Office for Mandapam 5th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Mandapam 5th lane?

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