Guideline Value for Mangalapuram 18th street

Mangalapuram 18th street guideline value

The current guideline value of Mangalapuram 18th 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 18th street has changed

The guideline value for Mangalapuram 18th 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. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting an increase of 60%. By 2012, the value was Rs 3,100 per sq.ft, marking a substantial increase of 288% from the previous revision. However, it then decreased to Rs 2,077 per sq.ft in 2017, a decline of 33%. The guideline value saw a notable increase to Rs 3,100 per sq.ft in 2023, followed by the current value of Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 649%. The register has no figure for Mangalapuram 18th street for the years not mentioned in the revisions.

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 value for these streets is Rs 7,100 per sq.ft, indicating that Mangalapuram 18th street's 2024 figure is below this median.

• Mangalapuram 17th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 1st street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 16th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 2nd street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 15th 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 18th 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 the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangalapuram 18th street?

The Sub Registrar Office that covers Mangalapuram 18th 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 in property transactions in Egmore. It serves as a benchmark for determining the minimum value of a property when registering a sale. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Mangalapuram 18th street?

The current guideline value of Mangalapuram 18th 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 18th street?

Mangalapuram 18th street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Mangalapuram 18th street?

The Sub Registrar Office for Mangalapuram 18th 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 18th street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 at a rate of 7%.