Guideline Value for MARVEL RESIDENCY

Marvel Residency guideline value

The current guideline value of Marvel Residency is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Special Type - I.

How the guideline value of Marvel Residency has changed

The guideline value for Marvel Residency has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 1,000 per sq.ft. The 2017 revision saw a decrease to Rs 670 per sq.ft, marking a -33% change from 2012. From 2017 to 2023, the value increased by 49%, bringing it back to Rs 1,000 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

As of the latest 2024 revision, the guideline value remains at Rs 1,000 per sq.ft, indicating no change from the previous year. Overall, from 2012 to 2024, the guideline value has not changed, remaining constant at Rs 1,000 per sq.ft.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 750 per sq.ft, placing Marvel Residency's 2024 figure above this median.

• Masoothi St: Rs 750 per sq.ft (2024)
• Masthan Hajith Dharkar Street: Rs 750 per sq.ft (2024)
• Masthan Vali Darga St: Rs 750 per sq.ft (2024)
• M.D.Nagar: Rs 500 per sq.ft (2024)
• Mariyamman Kovil St: Rs 750 per sq.ft (2024)
• Meevar Colony Kamarajar Srteet: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Marvel Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 information.

Which Sub Registrar Office covers Marvel Residency?

The Sub Registrar Office that covers Marvel Residency is the Walajabad Sub Registrar Office located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Marvel Residency?

The current guideline value of Marvel Residency 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 since 2012, with fluctuations in previous years, including a decrease to Rs 670 per sq.ft in 2017 and an increase back to Rs 1,000 per sq.ft in 2023.

What are the guideline values of other streets in Walajabad?

Other streets in Walajabad have varying guideline values, with rates ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 750 per sq.ft.

What are the stamp duty and registration fees for properties in Marvel Residency?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

Which office handles the registration for Marvel Residency?

The Walajabad Sub Registrar Office handles the registration for Marvel Residency, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.