Guideline Value for Mangalapuram 5th street

Mangalapuram 5th street guideline value

The current guideline value of Mangalapuram 5th street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Mangalapuram 5th street has changed

The guideline value for Mangalapuram 5th street has seen several revisions over the years. Starting from Rs 454 per sq.ft in 2002, it increased to Rs 501 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, which was a 60% increase. Following that, the value jumped to Rs 3,100 per sq.ft in 2012, reflecting a remarkable 288% increase. However, it decreased to Rs 2,077 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 3,100 per sq.ft in 2023, and finally reached Rs 3,400 per sq.ft in the 2024 revision, 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 5th street for the years not mentioned in the revisions.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that have 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 5th street's 2024 guideline value is below this median.

• Mangalapuram 4th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 6th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 3rd street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 7th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 2nd street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 8th street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Mangalapuram 5th street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees to Rs 3,06,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mangalapuram 5th street?

The Sub Registrar Office that covers Mangalapuram 5th street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is an essential factor in the property registration process 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 property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Mangalapuram 5th street?

The current guideline value of Mangalapuram 5th 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 5th street?

The land classification for Mangalapuram 5th street is Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Mangalapuram 5th street is the Periamet Sub Registrar Office, 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, for a property with a guideline value of Rs 34,00,000, the total fees would be Rs 3,06,000.