Guideline Value for Globe Vill

Globe Vill guideline value

The current guideline value of Globe Vill in Mambakkam village, under the Sunguvarchattram SRO, is Rs 1,250 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Globe Vill has changed

Looking at the historical revisions, the guideline value for Globe Vill was Rs 1,250 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. Prior to this, in the 2017 revision, the value was Rs 837 per sq.ft, showing a significant increase of 49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 1,250 per sq.ft, which means that from 2012 to 2017, there was a decrease of 33%.

Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 1,250 per sq.ft. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

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 for Globe Vill is above this median, indicating a higher valuation compared to many other streets in the village.

• Florence Garden: Rs 500 per sq.ft (2024)
• ETA Florence Garden: Rs 500 per sq.ft (2024)
• Colony Vembulliamman Kovil Street: Rs 200 per sq.ft (2024)
• Kakkan Street: Rs 250 per sq.ft (2024)
• Colony Melandai Street: Rs 200 per sq.ft (2024)
• Colony Kizhandai Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Globe Vill

For a 1,000 sq.ft plot at the current guideline value of Rs 1,250 per sq.ft, the total guideline value would be Rs 12,50,000. The stamp duty at 7% would amount to Rs 87,500, and the registration fee at 2% would be Rs 25,000, making the total cost Rs 1,12,500. It is important to note that the 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 Globe Vill?

The Sub Registrar Office that covers Globe Vill is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Globe Vill?

The current guideline value of Globe Vill is Rs 1,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Globe Vill has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 1,250 per sq.ft, unchanged from 2023. The value increased from Rs 837 per sq.ft in 2017 to Rs 1,250 per sq.ft in 2023, reflecting a 49% increase over that period.

What are the guideline values of other streets in Mambakkam?

Other streets in Mambakkam have varying guideline values. For example, Florence Garden and ETA Florence Garden both have a guideline value of Rs 500 per sq.ft, while Colony Vembulliamman Kovil Street is at Rs 200 per sq.ft.

How is stamp duty calculated for properties in Globe Vill?

Stamp duty for properties in Globe Vill is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 12,50,000, the stamp duty at 7% would be Rs 87,500.

Where can I find the Sub Registrar Office for Globe Vill?

The Sub Registrar Office for Globe Vill is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more details through the provided link.