Guideline Value for MARS ROYAL CITY

Mars Royal City guideline value

The current guideline value of Mars Royal City in Jeganathapuram village is Rs 1,000 per sq.ft, effective from 1 July 2024. This property falls under the Ponneri SRO with a land classification of Residential Special Type - II.

How the guideline value of Mars Royal City has changed

The guideline value for Mars Royal City has remained consistent in recent revisions. In the 2023 revision, the guideline value was Rs 1,000 per sq.ft, and this figure has not changed in the 2024 revision, which also lists the value at Rs 1,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Therefore, from 2023 to 2024, there has been a change of +0%. The guideline value has consistently been Rs 1,000 per sq.ft in the last two revisions, indicating stability in this area.

Guideline values in Jeganathapuram

In Jeganathapuram, there are 7 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,500 per sq.ft. The median value for these streets is Rs 100 per sq.ft, placing Mars Royal City's 2024 figure above that median.

• Madhavan Nagar: Rs 100 per sq.ft (2024)
• Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sai Kirupa Nagar: Rs 100 per sq.ft (2024)
• Sri Nagar: Rs 100 per sq.ft (2024)
• Jayadev: Rs 1,500 per sq.ft (2024)
• Kshetra: Rs 1,493 per sq.ft (2024)

Stamp duty and registration fee for property in Mars Royal City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mars Royal City?

The Mars Royal City area falls under the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is an essential reference for determining the stamp duty and registration fees when buying or selling property in Jeganathapuram. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer and seller agree on a sale price, the stamp duty is calculated based on the higher of the guideline value or the agreed sale price. This ensures that the transaction reflects the true value of the property in the eyes of the law.

Frequently asked questions

What is the current guideline value of Mars Royal City?

The current guideline value of Mars Royal City is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values for other streets in Jeganathapuram?

Other streets in Jeganathapuram have varying guideline values, ranging from Rs 100 to Rs 1,500 per sq.ft. Mars Royal City's value is above the median of Rs 100 per sq.ft.

What fees are associated with buying property in Mars Royal City?

When buying property in Mars Royal City, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees can amount to Rs 90,000.

Where can I find the Sub Registrar Office for Mars Royal City?

The Sub Registrar Office covering Mars Royal City is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more information by visiting the relevant link.