Guideline Value for MARG PROPERITES

Marg Properites guideline value

The current guideline value of Marg Properites is Rs 1,980 per sq.ft, effective from 1 July 2024. This property is located in Kalavakkam village, under the Thiruporur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Marg Properites has changed

The guideline value for Marg Properites has undergone several revisions over the years. The earliest recorded value is from 2012, set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase, with the value rising to Rs 1,800 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,980 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. The increase from 2017 to 2023 was a remarkable 79%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 32%.

Guideline values in Kalavakkam

In Kalavakkam, there are 27 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 1,816 to Rs 4,250 per sq.ft. The median guideline value for these streets is Rs 2,463 per sq.ft, placing Marg Properites' 2024 figure below this median.

• Marg Savithanjana: Rs 2,200 per sq.ft (2024)
• Nakshatra: Rs 1,925 per sq.ft (2024)
• Old Mamallapuram Salai (Omr): Rs 2,205 per sq.ft (2024)
• Kandhan Kottam: Rs 1,925 per sq.ft (2024)
• Jayam Properties: Rs 2,200 per sq.ft (2024)
• Happinest Phase V: Rs 2,873 per sq.ft (2024)

Stamp duty and registration fee for property in Marg Properites

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, charged at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total cost of Rs 1,78,200. 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 Marg Properites?

The Sub Registrar Office that covers Marg Properites is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kalavakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Marg Properites?

The current guideline value of Marg Properites is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 in 2012 to Rs 1,980 in 2024, with notable increases in 2023 and 2024.

What is the land classification of Marg Properites?

Marg Properites is classified as Commercial Class I Type - II.

What are the stamp duty and registration fees for Marg Properites?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot totals Rs 1,78,200.

Where is the Sub Registrar Office located for Marg Properites?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.