Guideline Value for Mandapam 6thlane

Mandapam 6thlane guideline value

The current guideline value of Mandapam 6thlane 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 6thlane has changed

The guideline value for Mandapam 6thlane has undergone several revisions since 2007. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, this figure decreased to Rs 4,355 per sq.ft in 2017. The value then rose to Rs 6,500 per sq.ft in 2023 before reaching the current rate of Rs 7,100 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision showed a rise of 9%. Overall, from 2007 to 2024, the guideline value increased by 255%, reflecting significant changes in the property landscape over the years.

Guideline values in Egmore

In Egmore village, 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 guideline value for these streets is Rs 7,100 per sq.ft, which is equal to the current value of Mandapam 6thlane.

• Mandapam 5th lane: Rs 7,100 per sq.ft (2024)
• Mandapam Cross Street: Rs 7,100 per sq.ft (2024)
• Mandapam 4thlane: Rs 7,100 per sq.ft (2024)
• Mandapam MainRoad: Rs 11,000 per sq.ft (2024)
• Mandapam 3rd lane: Rs 7,100 per sq.ft (2024)
• Mandapam Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Mandapam 6thlane

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. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mandapam 6thlane?

The Sub Registrar Office that covers Mandapam 6thlane 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 during property registration in Egmore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in transactions.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Mandapam 6thlane?

The current guideline value of Mandapam 6thlane 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 an overall increase of 255% over the years.

What is the land classification for Mandapam 6thlane?

Mandapam 6thlane is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, and it covers Mandapam 6thlane.