Guideline Value for Florence Garden

Florence Garden guideline value

The current guideline value of Florence Garden, located in Mambakkam village under the Sunguvarchattram SRO, is Rs 500 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - I.

How the guideline value of Florence Garden has changed

In the 2023 revision, the guideline value for Florence Garden was Rs 500 per sq.ft, which remained unchanged in the 2024 revision. The register has no figure for this street in the revisions from 2017, 2012, 2007, 2003, and 2002.

Since the 2023 revision to the 2024 revision, there has been a change of +0%. This indicates that the guideline value has remained stable over the past year.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,418 per sq.ft, with a median value of Rs 305 per sq.ft. The guideline value of Florence Garden is above this median.

• ETA Florence Garden: Rs 500 per sq.ft (2024)
• Globe Vill: Rs 1,250 per sq.ft (2024)
• Colony Vembulliamman Kovil Street: Rs 200 per sq.ft (2024)
• Colony Melandai Street: Rs 200 per sq.ft (2024)
• Colony Kizhandai Street: Rs 200 per sq.ft (2024)
• Colony Bajanai Kovil Street: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Florence Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000. Together, these fees would total Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Florence Garden?

The Sub Registrar Office that covers Florence Garden is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value helps ensure transparency and fairness in property transactions. It serves as a reference point for both buyers and sellers, providing a standardized measure for property values in the area.

Frequently asked questions

What is the current guideline value of Florence Garden?

The current guideline value of Florence Garden is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Florence Garden has remained unchanged at Rs 500 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the revisions from 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Florence Garden?

Florence Garden is classified as Residential Special Type - I. This classification indicates the intended use and development potential of the land.

What are the registration fees based on the guideline value?

Registration fees are calculated based on the guideline value. For a plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%, and the registration fee would be Rs 10,000 at 2%, totaling Rs 45,000.

Where can I find the Sub Registrar Office for Florence Garden?

The Sub Registrar Office for Florence Garden is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.