Guideline Value for Mandapam street

Mandapam street guideline value

The current guideline value of Mandapam street in Ikkadu village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Mandapam street has changed

The guideline value for Mandapam street has seen several revisions over the years. The 2007 revision set the value at Rs 80 per sq.ft, which rose significantly to Rs 500 per sq.ft in the 2012 revision. However, this value dropped to Rs 335 per sq.ft in the 2017 revision, before climbing back to Rs 500 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The guideline value remained unchanged from 2023 to 2024, showing a 0% change. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 525%.

Guideline values in Ikkadu

In Ikkadu, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,400 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Mandapam street's 2024 figure above this median.

• Makka Nagar 3rd street: Rs 300 per sq.ft (2024)
• Makka Nagar 2nd street: Rs 300 per sq.ft (2024)
• Makka Nagar 1st street: Rs 300 per sq.ft (2024)
• Mahalakshmi Nagar- Teachers Mahalakshmi Nagar: Rs 500 per sq.ft (2024)
• Mettu street: Rs 500 per sq.ft (2024)
• Laksmi Nagar: Rs 400 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total of Rs 45,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Mandapam street?

The Mandapam street falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ikkadu. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer and seller must ensure that the transaction is registered at the appropriate Sub Registrar Office. The guideline value serves as a benchmark for the official valuation of the property, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Mandapam street?

The current guideline value of Mandapam street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, and has been Rs 500 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Ikkadu?

The median guideline value for the 51 streets in Ikkadu is Rs 400 per sq.ft, with Mandapam street's 2024 figure being above this median.

What are the stamp duty and registration fees for Mandapam street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000 based on the current guideline value.

Where is the Sub Registrar Office for Mandapam street located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.