Guideline Value for Mandaveli 3rd Street (Ward-7)

Mandaveli 3rd Street (Ward-7) guideline value

The current guideline value of Mandaveli 3rd Street (Ward-7) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Mandaveli 3rd Street (Ward-7) has changed

The guideline value for Mandaveli 3rd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. However, it decreased to Rs 804 per sq.ft in the 2017 revision. The most recent revision in 2024 saw a significant increase to Rs 1,300 per sq.ft, marking a 62% rise from the 2017 figure. Overall, from 2012 to 2024, there has been an 8% increase in the guideline value.

There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are a total of 1,946 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Mandaveli 3rd Street is below this median.

• Mandaveli 2nd Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 4th Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 5th Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 1st Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 6th Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli Main Road North End (Ward No.7): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mandaveli 3rd Street (Ward-7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mandaveli 3rd Street (Ward-7)?

The Sub Registrar Office that covers Mandaveli 3rd Street (Ward-7) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mandaveli 3rd Street (Ward-7)?

The current guideline value of Mandaveli 3rd Street (Ward-7) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification of Mandaveli 3rd Street (Ward-7)?

The land classification for Mandaveli 3rd Street (Ward-7) is Residential Class III Type - I.

Which Sub Registrar Office covers Mandaveli 3rd Street (Ward-7)?

The Madhavaram Sub Registrar Office covers Mandaveli 3rd Street (Ward-7), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Mandaveli 3rd Street (Ward-7)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 91,000.