Guideline Value for MAYUR GARDEN PHASE IV

Mayur Garden Phase IV guideline value

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

How the guideline value of Mayur Garden Phase IV has changed

Looking at the revisions, the guideline value for Mayur Garden Phase IV 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 2017. Following this, the value rose significantly to Rs 100 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 100%. Overall, comparing the 2012 revision to the 2024 revision, there has been an increase of 33% in the guideline value.

Guideline values in Ammambakkam

Ammambakkam village has 14 streets under the Oothukkottai SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with the median being Rs 100 per sq.ft. The guideline value for Mayur Garden Phase IV aligns with this median.

• Mahalakshmi Nagar: Rs 100 per sq.ft (2024)
• Sainagar: Rs 100 per sq.ft (2024)
• Sai Nagar - I: Rs 100 per sq.ft (2024)
• Sathish Nagar: Rs 100 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 100 per sq.ft (2024)
• Sree Balaji Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Mayur Garden Phase IV

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,00,000. The stamp duty is calculated at 7%, totaling Rs 7,000, and the registration fee is 2%, which is Rs 2,000. Therefore, the total cost for these fees comes to Rs 9,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mayur Garden Phase IV?

The Sub Registrar Office that covers Mayur Garden Phase IV is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ammambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded at a value recognized by the government. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Mayur Garden Phase IV?

The current guideline value of Mayur Garden Phase IV 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 both 2023 and 2024. This represents an overall increase of 33% from 2012 to 2024.

What are the guideline values for other streets in Ammambakkam?

Other streets in Ammambakkam have a guideline value of Rs 100 per sq.ft as of 2024. This includes streets such as Mahalakshmi Nagar, Sainagar, and Sathish Nagar, among others.

What fees are associated with buying property in Mayur Garden Phase IV?

When purchasing property in Mayur Garden Phase IV, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Mayur Garden Phase IV located?

The Oothukkottai Sub Registrar Office, which covers Mayur Garden Phase IV, is located near the government hospital in Uthukottai, 602026, Chennai registration zone.