Guideline Value for Mandapam Road

Mandapam Road guideline value

The current guideline value of Mandapam Road is Rs 11,000 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 I Type - II.

How the guideline value of Mandapam Road has changed

The guideline value for Mandapam Road has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 1,029 per sq.ft. It increased to Rs 2,610 per sq.ft in 2007, marking a rise of 154%. The 2012 revision saw a decrease to Rs 10,000 per sq.ft, a drop of 33%. However, the value then increased to Rs 6,700 per sq.ft in 2017, followed by a substantial rise to Rs 10,000 per sq.ft in 2023, and finally reaching Rs 11,000 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 969%. It is important to note that the register has no figure for the year 2002 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 for these streets is Rs 7,100 per sq.ft, placing Mandapam Road's 2024 figure above the median.

• Mandapam MainRoad: Rs 11,000 per sq.ft (2024)
• Mandapam Cross Street: Rs 7,100 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 Road

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mandapam Road?

The Sub Registrar Office that covers Mandapam Road 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 when buying or selling property in Egmore. It determines the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value is used to assess the applicable fees. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mandapam Road?

The current guideline value of Mandapam Road 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 1,029 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 969% over the years.

What is the land classification for Mandapam Road?

Mandapam Road is classified as Residential Class I Type - II under the current guidelines.

Where can I find the Sub Registrar Office for Mandapam Road?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, 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.