Guideline Value for Mandaveli 5th Street (Ward-7)

Mandaveli 5th Street (Ward-7) guideline value

The current guideline value of Mandaveli 5th 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 SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Mandaveli 5th Street (Ward-7) has changed

In the 2017 revision, the guideline value for Mandaveli 5th Street was Rs 804 per sq.ft. This figure has increased to Rs 1,300 per sq.ft in the 2024 revision, marking a significant change of +62% over this period. The register has no figure for this street in the years 2023, 2012, 2007, 2003, and 2002.

From 2017 to 2024, the increase in the guideline value reflects the adjustments made in the registration department's records. The current value is now set at Rs 1,300 per sq.ft as per the 2024 revision.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Mandaveli 5th Street's 2024 guideline value is below this median.

• Mandaveli 4th Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 6th Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 3rd Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 2nd Street (Ward-7): Rs 1,300 per sq.ft (2024)
• Mandaveli 1st 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 5th Street (Ward-7)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Mandaveli 5th Street (Ward-7)?

The Sub Registrar Office that covers Mandaveli 5th 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 plays a crucial role during the registration of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the higher value between the guideline value and the sale price is taken into account for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mandaveli 5th Street (Ward-7)?

The current guideline value of Mandaveli 5th Street (Ward-7) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is a change of +62%.

What are the other streets in Madhavaram with the same guideline value?

Other streets in Madhavaram that share the same guideline value of Rs 1,300 per sq.ft for 2024 include Mandaveli 4th Street, Mandaveli 6th Street, Mandaveli 3rd Street, Mandaveli 2nd Street, Mandaveli 1st Street, and Mandaveli Main Road North End.

What is the stamp duty for a property in Mandaveli 5th Street (Ward-7)?

The stamp duty for a property in Mandaveli 5th Street is calculated at 7% of the guideline value. For example, if the guideline value is Rs 13,00,000, the stamp duty would be Rs 91,000.

Which office handles the registration for Mandaveli 5th Street (Ward-7)?

The registration for Mandaveli 5th Street (Ward-7) is handled by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.