Guideline Value for MAYUR GARDEN PHAS-III

Mayur Garden Phas-III guideline value

The current guideline value of Mayur Garden Phas-III is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Gunippalaiyam village, under the Oothukkottai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Mayur Garden Phas-III has changed

Looking at the historical revisions, the guideline value for Mayur Garden Phas-III has seen several changes over the years. The 2012 revision set the value at Rs 75 per sq.ft, which increased to Rs 50 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 100 per sq.ft, representing a 100% increase. The 2023 revision maintained the value at Rs 100 per sq.ft, with no change leading into the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the most recent revision is the 2024 figure of Rs 100 per sq.ft, which is consistent with the previous year's value.

Guideline values in Gunippalaiyam

In Gunippalaiyam, there are 11 streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft. The median for these streets is also Rs 100 per sq.ft, placing Mayur Garden Phas-III at the median value.

• Mayur Gardenphase-1: Rs 100 per sq.ft (2024)
• Mayur Garden: Rs 100 per sq.ft (2024)
• Mothi Nagar: Rs 100 per sq.ft (2024)
• Mothinagar Annex: Rs 100 per sq.ft (2024)
• Sri Bavani Amman Nagar: Rs 100 per sq.ft (2024)
• Sri Muthu Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Mayur Garden Phas-III

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mayur Garden Phas-III?

The Mayur Garden Phas-III property falls under the jurisdiction of the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai, 602026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gunippalaiyam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. This ensures that the transaction is recorded accurately and fairly in the official records.

When a property is sold, the guideline value is used to assess the applicable duties, which are charged based on the higher value between the guideline value and the sale price. This practice helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Mayur Garden Phas-III?

The current guideline value of Mayur Garden Phas-III is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and maintained that value in 2024.

What is the land classification for Mayur Garden Phas-III?

Mayur Garden Phas-III is classified as Residential Class I Type - I.

Which office handles registrations for Mayur Garden Phas-III?

The Oothukkottai Sub Registrar Office handles registrations for Mayur Garden Phas-III, located near the government hospital in Uthukottai, Chennai.

How is the stamp duty calculated for properties in Mayur Garden Phas-III?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft would incur a stamp duty of Rs 7,000.