Guideline Value for MARG LTD.,

Marg Ltd., guideline value

The current guideline value for Marg Ltd., located in Karapakkam village under the Neelankarai SRO, is Rs 3,000 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of Marg Ltd., has changed

The guideline value for Marg Ltd. has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,000 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, there was a 20% increase. Overall, from 2012 to 2024, the guideline value has risen by 20%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Marg Ltd. is above this median.

• Mariyadoss Garden: Rs 1,100 per sq.ft (2024)
• Manimekalai Nagar: Rs 1,700 per sq.ft (2024)
• M.A.Vaithilingam Road: Rs 1,000 per sq.ft (2024)
• Mayana Salai: Rs 1,000 per sq.ft (2024)
• Mahatma Gandhi Street: Rs 2,200 per sq.ft (2024)
• MAHATMA GANDHI 2nd CROSS STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Marg Ltd.,

For a 1,000 sq.ft plot at the current rate of Rs 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. 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 detailed calculations.

Which Sub Registrar Office covers Marg Ltd.,?

The Sub Registrar Office that covers Marg Ltd. is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Karapakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value for Marg Ltd.,?

The current guideline value for Marg Ltd., is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Marg Ltd.,?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,70,000, calculated based on the guideline value of Rs 30,00,000.

Which Sub Registrar Office covers Marg Ltd.,?

The Neelankarai Sub Registrar Office covers Marg Ltd., located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher amount is used for fee calculations.