Guideline Value for MAVASORRA GARDEN EXTENSION

Mavasorra Garden Extension guideline value

The current guideline value of Mavasorra Garden Extension is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Vadamelpakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Mavasorra Garden Extension has changed

In the 2017 revision, the guideline value was set at Rs 234 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 350 per sq.ft. The most recent 2024 revision has kept the guideline value at Rs 350 per sq.ft, indicating no change from the previous year. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2017 to 2024, there has been a 50% increase in the guideline value, with the current rate reflecting stability since the 2023 revision.

Guideline values in Vadamelpakkam

In Vadamelpakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 350 to Rs 1,000 per sq.ft. The median guideline value is Rs 350 per sq.ft, which is equal to the current guideline value of Mavasorra Garden Extension.

• Mavsorva Garden: Rs 350 per sq.ft (2024)
• Krishna Nagar: Rs 350 per sq.ft (2024)
• Kannaya Garden: Rs 975 per sq.ft (2024)
• Paradise City: Rs 1,000 per sq.ft (2024)
• Paradise City Extension: Rs 1,000 per sq.ft (2024)
• Ganthi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Mavasorra Garden Extension

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Mavasorra Garden Extension?

The Mavasorra Garden Extension is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vadamelpakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must consider this value to comply with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Mavasorra Garden Extension?

The current guideline value of Mavasorra Garden Extension is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2023 to 2024. There was a 50% increase from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023.

What is the land classification of Mavasorra Garden Extension?

Mavasorra Garden Extension is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Mavasorra Garden Extension?

The Gooduvancheri Sub Registrar Office covers Mavasorra Garden Extension, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mavasorra Garden Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at 7%, along with a registration fee of Rs 7,000 at 2%.