Guideline Value for Mangalapuram 3rdstreet

Mangalapuram 3rdstreet guideline value

The current guideline value of Mangalapuram 3rdstreet 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 3rdstreet has changed

The guideline value for Mangalapuram 3rdstreet has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 454 per sq.ft. This increased to Rs 501 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped significantly to Rs 800 per sq.ft, reflecting a 60% increase. The next revision in 2012 saw the value rise to Rs 3,100 per sq.ft, which was an increase of 288% from the previous figure. However, in 2017, the value dropped to Rs 2,077 per sq.ft, indicating a decrease of 33%. The guideline value then increased to Rs 3,100 per sq.ft in 2023, followed by the current value of Rs 3,400 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from the initial value in 2002 to the current value in 2024, the guideline value has increased by 649%. There are no recorded figures for Mangalapuram 3rdstreet in the years not mentioned in this summary.

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. The guideline value of Mangalapuram 3rdstreet is below this median.

• Mangalapuram 2ndstreet: Rs 3,400 per sq.ft (2024)
• Mangalapuram 4th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 1st street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 5th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 18th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 6th street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram 3rdstreet

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, together totaling Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mangalapuram 3rdstreet?

The Sub Registrar Office that covers Mangalapuram 3rdstreet 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 plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any legal complications.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the actual sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mangalapuram 3rdstreet?

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

What is the land classification for Mangalapuram 3rdstreet?

Mangalapuram 3rdstreet is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Mangalapuram 3rdstreet?

The Periamet Sub Registrar Office covers Mangalapuram 3rdstreet and is located at 1103, Poonamallee High Road, Chennai-600 003.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 3,06,000 in fees.