Guideline Value for New Mandapam Road

New Mandapam Road guideline value

The current guideline value of New Mandapam Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of New Mandapam Road has changed

The guideline value for New Mandapam Road has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure decreased to Rs 2,680 per sq.ft in 2017 before rising again to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that the guideline value for New Mandapam Road is below this median.

• New Colony (V.O.C.)Ist Street: Rs 4,400 per sq.ft (2024)
• New Colony (V.O.C.): Rs 4,400 per sq.ft (2024)
• New Street: Rs 4,400 per sq.ft (2024)
• New Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• New Street 3rd Lane: Rs 4,400 per sq.ft (2024)
• New Street 4th Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Mandapam Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Mandapam Road?

The Sub Registrar Office that covers New Mandapam Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Ayanavaram, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value serves as a baseline to ensure that the transaction is registered at a fair value.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of New Mandapam Road?

The current guideline value of New Mandapam Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the registration office for New Mandapam Road?

The registration office for New Mandapam Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property in New Mandapam Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.

What are the guideline values for other streets in Ayanavaram?

Other streets in Ayanavaram have guideline values ranging from Rs 4,400 per sq.ft, including New Colony (V.O.C.)Ist Street, New Colony (V.O.C.), New Street, and others, all set at Rs 4,400 per sq.ft for 2024.