Guideline Value for Mangalapuram 8th street

Mangalapuram 8th street guideline value

The current guideline value of Mangalapuram 8th 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 8th street has changed

The guideline value for Mangalapuram 8th 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. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then jumped to Rs 3,100 per sq.ft in 2012. However, it decreased to Rs 2,077 per sq.ft in 2017 before increasing again to Rs 3,100 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 3,400 per sq.ft.

Notably, the changes between these revisions include an increase of 10% from 2023 to 2024, a substantial rise of 49% from 2017 to 2023, a decrease of 33% from 2012 to 2017, and a remarkable increase of 288% from 2007 to 2012. The overall change from 2002 to 2024 reflects an increase of 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. The median value is Rs 7,100 per sq.ft, indicating that Mangalapuram 8th street's 2024 figure is below this median.

• Mangalapuram 7th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 9th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 6th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 5th street: Rs 3,400 per sq.ft (2024)
• Mangalapuram 4th 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 8th 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, bringing the total to 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 8th street?

The Mangalapuram 8th street is covered by 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 is a crucial factor during the registration of property transactions in Egmore. It determines 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 helps in assessing the transaction price. It is essential for both buyers and sellers to be aware of this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Mangalapuram 8th street?

The current guideline value of Mangalapuram 8th 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 increased from Rs 454 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, showing an overall increase of 649% over the years.

What is the land classification for Mangalapuram 8th street?

Mangalapuram 8th street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000, and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Where is the Sub Registrar Office located for Mangalapuram 8th street?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.