Guideline Value for Mangalapuram 17th street

Mangalapuram 17th street guideline value

The current guideline value of Mangalapuram 17th 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 17th street has changed

The guideline value for Mangalapuram 17th street has seen several revisions over the years. In 2002, the value was Rs 454 per sq.ft. It increased to Rs 501 per sq.ft in 2003, followed by a rise to Rs 800 per sq.ft in 2007. The value then jumped significantly to Rs 3,100 per sq.ft in 2012, before decreasing to Rs 2,077 per sq.ft in 2017. The 2023 revision set the value at Rs 3,100 per sq.ft, and the most recent revision in 2024 is Rs 3,400 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, there was a 10% increase. The value rose by 60% from 2003 to 2007, followed by a substantial increase of 288% from 2007 to 2012. However, from 2012 to 2017, there was a decrease of 33%. From 2017 to 2023, the value increased by 49%, and finally, from 2023 to 2024, there was a 10% increase. 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 that carry 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. Mangalapuram 17th street's 2024 guideline value is below this median.

• Mangalapuram 16th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 18th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 15th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 1st street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 14th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 2nd street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram 17th street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. 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 17th street?

The Sub Registrar Office that covers Mangalapuram 17th 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 during the registration of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value must be considered, as it impacts the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Mangalapuram 17th street?

The current guideline value of Mangalapuram 17th 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, with various revisions occurring in between.

What is the land classification of Mangalapuram 17th street?

Mangalapuram 17th street is classified as Residential Class III Type - II.

What is the registration office for Mangalapuram 17th street?

The registration office for Mangalapuram 17th street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Mangalapuram 17th street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,38,000.