Guideline Value for Mandapam Street

Mandapam Street guideline value

The current guideline value of Mandapam Street in Amarampedu village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Mandapam Street has changed

In the 2012 revision, the guideline value for Mandapam Street was set at Rs 150 per sq.ft. The following revision in 2017 saw a decrease to Rs 100 per sq.ft, marking a 33% reduction. However, the guideline value increased significantly by 50% in the 2023 revision, returning to Rs 150 per sq.ft. The most recent revision in 2024 maintained this value at Rs 150 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Mandapam Street. Therefore, the only revisions with recorded figures are from 2012, 2017, 2023, and 2024.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that have a guideline value for the year 2024, ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, placing Mandapam Street's 2024 figure below this median.

• Manickapuri: Rs 100 per sq.ft (2024)
• Manickapuri Extn: Rs 100 per sq.ft (2024)
• Maruthuvar Street: Rs 150 per sq.ft (2024)
• Madha garden: Rs 200 per sq.ft (2024)
• Lakshmi Nagar Phase 2: Rs 350 per sq.ft (2024)
• Lakshmi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Mandapam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty is calculated at 7%, resulting in Rs 10,500, while the registration fee is charged at 2%, amounting to Rs 3,000. Therefore, the total cost for stamp duty and registration fees together is Rs 13,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mandapam Street?

The Sub Registrar Office that covers Mandapam Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Amarampedu

The guideline value plays a crucial role during the registration process when buying or selling property in Amarampedu. It is used to determine the stamp duty and registration fees applicable for the transaction, ensuring that the correct amounts are paid to the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Mandapam Street?

The current guideline value of Mandapam Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 150 per sq.ft. The value was Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What is the classification of Mandapam Street?

Mandapam Street is classified as Residential Class II Type - I under the guideline value system.

Where is the Sriperumpudur Sub Registrar Office located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mandapam Street?

Stamp duty is calculated based on the higher of the guideline value or sale price. For example, for a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 at a rate of 7%.