Guideline Value for Mangalapuram 7th street

Mangalapuram 7th street guideline value

The current guideline value of Mangalapuram 7th street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - II.

How the guideline value of Mangalapuram 7th street has changed

Looking back at the revisions, the guideline value for Mangalapuram 7th street started at Rs 454 per sq.ft in 2002. It then increased to Rs 501 per sq.ft in 2003, followed by a rise to Rs 800 per sq.ft in 2007. The value saw a significant jump to Rs 3,100 per sq.ft in 2012, but then decreased to Rs 2,077 per sq.ft in 2017. The value increased again to Rs 3,100 per sq.ft in 2023, and currently stands at Rs 3,400 per sq.ft as of the 2024 revision. There are no figures available for the years not mentioned in this register.

From 2017 to 2023, the guideline value increased by 49%. There was a notable decrease of 33% from 2012 to 2017. The value jumped by 288% from 2007 to 2012, and from 2003 to 2007, it rose by 60%. The increase from 2002 to 2003 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 649%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, placing Mangalapuram 7th street's 2024 figure below that median.

• Mangalapuram 6th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 8th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 5th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 9th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 4th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 3rd street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram 7th street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total cost for these fees Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Mangalapuram 7th street?

The Mangalapuram 7th street is covered by the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It serves as a reference for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When registering a property, buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mangalapuram 7th street?

The current guideline value of Mangalapuram 7th street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 454 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Mangalapuram 7th street?

Mangalapuram 7th street is classified as Residential Class III Type - II under the Periamet SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Where is the Sub Registrar Office for Mangalapuram 7th street located?

The Sub Registrar Office covering Mangalapuram 7th street is located at 1103, Poonamallee High Road, Chennai-600 003.