Guideline Value for MARK GARDEN

Mark Garden guideline value

The current guideline value of Mark Garden, located in Sholinganallur - 1 village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Mark Garden has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. This figure remained until the 2024 revision, which saw an increase of 69%, bringing the current guideline value to Rs 1,700 per sq.ft. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From 2017 to 2024, the guideline value increased significantly, reflecting a notable change in the property valuation. The increase from Rs 1,005 to Rs 1,700 per sq.ft indicates a substantial rise in the guideline value over this period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO carrying a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Mark Garden's guideline value is below this median.

• Marbhi Street: Rs 1,700 per sq.ft (2024)
• Mayana Pathai: Rs 1,700 per sq.ft (2024)
• Me.Aa.Vaidyalingam Street: Rs 2,200 per sq.ft (2024)
• Medavakkam Road: Rs 7,100 per sq.ft (2024)
• Medavakkam Road Cross Street: Rs 7,100 per sq.ft (2024)
• Manicka Vasagar Street(Grama Nedunchalai 37th Cross Street): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Mark Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mark Garden?

The Sub Registrar Office that covers Mark Garden 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 Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Mark Garden?

The current guideline value of Mark Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 69%, from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024.

Are there any years with no guideline value figures for Mark Garden?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Mark Garden.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, while Mark Garden's value is below this median.

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

The Sub Registrar Office for Mark Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.