Guideline Value for Mangalapuram 12th street

Mangalapuram 12th street guideline value

The current guideline value of Mangalapuram 12th street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class III Type - II.

How the guideline value of Mangalapuram 12th street has changed

The guideline value for Mangalapuram 12th 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, marking a change of +10%. The value then rose significantly to Rs 800 per sq.ft in 2007, an increase of +60%. Following this, the value surged to Rs 3,100 per sq.ft in 2012, reflecting a remarkable increase of +288%. However, it decreased to Rs 2,077 per sq.ft in 2017, a drop of -33%. The guideline value then rose again to Rs 3,100 per sq.ft in 2023, and finally to Rs 3,400 per sq.ft in 2024, which is an increase of +10%.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 is +649%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Mangalapuram 12th street's 2024 figure below that median.

• Mangalapuram 11th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 13th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 10th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 14th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 15th 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 12th street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. 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 Mangalapuram 12th street?

The Sub Registrar Office that covers Mangalapuram 12th 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 a crucial factor when registering property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. These charges are based on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mangalapuram 12th street?

The current guideline value of Mangalapuram 12th 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, showing an overall increase of +649%.

What is the stamp duty rate for property in Mangalapuram 12th street?

The stamp duty rate for property transactions in Mangalapuram 12th street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles transactions for Mangalapuram 12th street?

The Periamet Sub Registrar Office handles transactions for Mangalapuram 12th street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value of streets in Egmore?

The median guideline value of streets in Egmore is Rs 7,100 per sq.ft, with Mangalapuram 12th street's 2024 figure being below this median.