Guideline Value for Auditors Colony / Officers Garden

Auditors Colony / Officers Garden guideline value

The current guideline value of Auditors Colony / Officers Garden is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Auditors Colony / Officers Garden has changed

The guideline value for Auditors Colony / Officers Garden has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 900 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 603 per sq.ft. However, in the 2023 revision, the value increased to Rs 900 per sq.ft, and it further rose to Rs 990 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. Notably, between 2017 and 2023, the value surged by 49%, indicating significant changes in the guideline value over this period.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,300 per sq.ft. The median value is Rs 1,215 per sq.ft, placing the guideline value of Auditors Colony / Officers Garden below this median.

• Ashtalakhmi Nagar: Rs 990 per sq.ft (2024)
• As Avenue: Rs 330 per sq.ft (2024)
• Anna Street: Rs 990 per sq.ft (2024)
• Andal Nagar: Rs 1,320 per sq.ft (2024)
• Amman Nagar: Rs 990 per sq.ft (2024)
• Ambethkar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Auditors Colony / Officers Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, and the registration fee, charged at 2%, would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Auditors Colony / Officers Garden?

The Auditors Colony / Officers Garden is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Mannivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, which can affect the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Auditors Colony / Officers Garden?

The current guideline value of Auditors Colony / Officers Garden is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Auditors Colony / Officers Garden?

The Gooduvancheri Sub Registrar Office handles registrations for Auditors Colony / Officers Garden. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration, ensuring proper revenue collection through stamp duty and registration fees. It is essential for buyers and sellers to understand how it impacts their transaction costs.