Guideline Value for Mandhaiveli Street

Mandhaiveli Street guideline value

The current guideline value of Mandhaiveli Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Ulunthai village under the jurisdiction of the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Mandhaiveli Street has changed

The guideline value for Mandhaiveli Street has seen several revisions over the years. In 2012, the value was set at Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 100 per sq.ft. However, this value increased by 50% to Rs 150 per sq.ft in the 2023 revision, and there was no change from 2023 to the 2024 revision, keeping the value at Rs 150 per sq.ft.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for Mandhaiveli Street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 150 per sq.ft.

Guideline values in Ulunthai

In Ulunthai, there are 27 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 150 to Rs 426 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which is the same as the guideline value for Mandhaiveli Street.

• Main Road: Rs 150 per sq.ft (2024)
• Logaiya Naidu Avenue: Rs 285 per sq.ft (2024)
• Little Orchars: Rs 150 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Muthiriyar Street: Rs 150 per sq.ft (2024)
• Nadu Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Mandhaiveli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty, charged at 7%, would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000. Therefore, the total cost for stamp duty and registration fees would be Rs 13,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mandhaiveli Street?

The Sub Registrar Office that covers Mandhaiveli Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ulunthai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a buyer or seller engages in a transaction, the guideline value helps determine the minimum value at which the property can be registered. This process ensures transparency and fairness in property dealings, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Mandhaiveli Street?

The current guideline value of Mandhaiveli 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 remained at Rs 150 per sq.ft from 2012 to 2024, with a drop to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023.

What is the land classification for Mandhaiveli Street?

The land classification for Mandhaiveli Street is Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty rates for property in Mandhaiveli Street?

The stamp duty for property in Mandhaiveli Street is charged at 7% of the guideline value, while the registration fee is charged at 2%.

Where is the Sub Registrar Office for Mandhaiveli Street located?

The Sub Registrar Office for Mandhaiveli Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.