Guideline Value for Mangalapuram 2ndstreet

Mangalapuram 2ndstreet guideline value

The current guideline value of Mangalapuram 2ndstreet 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 2ndstreet has changed

The guideline value for Mangalapuram 2ndstreet has seen several revisions over the years. The earliest recorded value was Rs 454 per sq.ft in 2002, which increased to Rs 501 per sq.ft in 2003, marking a 10% rise. The value then continued to rise significantly, reaching Rs 800 per sq.ft in 2007, which was a 60% increase from the previous year. Following this, the value surged to Rs 3,100 per sq.ft in 2012, representing a remarkable 288% increase from 2007. However, it then dropped to Rs 2,077 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value rose to Rs 3,100 per sq.ft in 2023, and finally to Rs 3,400 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 649% for Mangalapuram 2ndstreet.

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 2ndstreet's 2024 figure is below this median.

• Mangalapuram 1st street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 3rdstreet: Rs 3,400 per sq.ft (2024)
• Mangalapuram 18th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 4th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 17th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 5th street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram 2ndstreet

For a 1,000 sq.ft plot at the current rate of Rs 3,400 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Mangalapuram 2ndstreet?

The Mangalapuram 2ndstreet falls under the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Egmore. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, depending on which is higher.

When you register a property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions set by the government. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Mangalapuram 2ndstreet?

The current guideline value of Mangalapuram 2ndstreet 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 increased from Rs 454 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 649% over the years.

What is the registration office for Mangalapuram 2ndstreet?

The registration office for Mangalapuram 2ndstreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Mangalapuram 2ndstreet?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,400 per sq.ft, the stamp duty would be Rs 2,38,000.

What is the land classification of Mangalapuram 2ndstreet?

Mangalapuram 2ndstreet is classified as Residential Class III Type - II, indicating its designation for residential use within the area.