Guideline Value for MARG SAVITHANJANA

Marg Savithanjana guideline value

The current guideline value of Marg Savithanjana is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kalavakkam village, under the Thiruporur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Marg Savithanjana has changed

The guideline value for Marg Savithanjana has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,700 per sq.ft. This increased to Rs 1,139 per sq.ft in 2017, which was a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 2,000 per sq.ft, marking a 76% increase. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Marg Savithanjana in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 29%.

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, with a median value of Rs 2,463 per sq.ft. The guideline value for Marg Savithanjana is below this median.

• Marg Properites: Rs 1,980 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 Savithanjana

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Marg Savithanjana?

The Marg Savithanjana street falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Kalavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Additionally, the guideline value can influence the overall transaction process, as it provides a standard reference for valuing properties in the area. It is essential for both buyers and sellers to understand this value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Marg Savithanjana?

The current guideline value of Marg Savithanjana is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a significant increase from Rs 1,139 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What are the other streets in Kalavakkam with their guideline values?

Other streets in Kalavakkam include Marg Properites at Rs 1,980 per sq.ft, Nakshatra at Rs 1,925 per sq.ft, and Old Mamallapuram Salai (Omr) at Rs 2,205 per sq.ft, among others.

What fees are associated with buying property in Marg Savithanjana?

When buying property in Marg Savithanjana, the stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Marg Savithanjana?

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