Guideline Value for Mangalapuram 11th street

Mangalapuram 11th street guideline value

The current guideline value of Mangalapuram 11th 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 11th street has changed

The guideline value for Mangalapuram 11th street has seen several revisions over the years. In 2002, the guideline value was Rs 454 per sq.ft, which increased to Rs 501 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then to Rs 3,100 per sq.ft in 2012. However, it dropped to Rs 2,077 per sq.ft in 2017, before increasing to Rs 3,100 per sq.ft in 2023, and finally reaching Rs 3,400 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%, while the jump from 2023 to 2024 was 10%. The most notable increase was from 2007 to 2012, which saw a rise of 288%. Overall, from 2002 to 2024, the guideline value has increased by 649%. There are no figures available for the years not mentioned in the revisions for this street.

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, with a median value of Rs 7,100 per sq.ft. The guideline value of Mangalapuram 11th street is below this median.

• Mangalapuram 10th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 12th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 13th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 14th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 15tht street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 16th street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram 11th 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mangalapuram 11th street?

The Sub Registrar Office that covers Mangalapuram 11th street is 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 an essential factor when registering property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Mangalapuram 11th street?

The current guideline value of Mangalapuram 11th 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 changed from Rs 454 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 649% over this period.

What is the land classification for Mangalapuram 11th street?

Mangalapuram 11th street is classified as Residential Class III Type - II.

What is the stamp duty for property in Mangalapuram 11th street?

The stamp duty for property in Mangalapuram 11th street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Mangalapuram 11th street located?

The Sub Registrar Office for Mangalapuram 11th street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.