Guideline Value for Mandapam MainRoad

Mandapam MainRoad guideline value

The current guideline value of Mandapam MainRoad is Rs 11,000 per sq.ft. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class I Type - II.

How the guideline value of Mandapam MainRoad has changed

The guideline value for Mandapam MainRoad has undergone several revisions over the years. In 2002, the rate was Rs 1,252 per sq.ft, which increased to Rs 1,380 per sq.ft in 2003, marking a 10% rise. By 2007, the value had significantly increased to Rs 4,000 per sq.ft, representing a 190% change. The guideline value then saw a substantial jump to Rs 10,000 per sq.ft in 2012, which was a 150% increase from the previous revision. However, this value decreased by 33% to Rs 6,700 per sq.ft in 2017.

In the most recent revisions, the value rose to Rs 10,000 per sq.ft in 2023, and then further increased to Rs 11,000 per sq.ft in 2024, reflecting a 10% change. Overall, from 2002 to 2024, the guideline value has increased by 779%. There are no figures available for the years not mentioned in the register for this street.

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, with a median value of Rs 7,100 per sq.ft. The guideline value for Mandapam MainRoad is above this median.

• Mandapam Cross Street: Rs 7,100 per sq.ft (2024)
• Mandapam Road: Rs 11,000 per sq.ft (2024)
• Mandapam 6thlane: Rs 7,100 per sq.ft (2024)
• Mandapam 5th lane: Rs 7,100 per sq.ft (2024)
• Mandapam 4thlane: Rs 7,100 per sq.ft (2024)
• Mandapam 3rd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mandapam MainRoad

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, making the total cost for these fees Rs 9,90,000. It is important to note that the 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 MainRoad?

The Sub Registrar Office covering Mandapam MainRoad 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 the registration process for property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mandapam MainRoad?

The current guideline value of Mandapam MainRoad is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,252 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 779% over the years.

What is the land classification of Mandapam MainRoad?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Where is the Sub Registrar Office for Mandapam MainRoad located?

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