Guideline Value for MAYUR GARDEN

Mayur Garden guideline value

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

How the guideline value of Mayur Garden has changed

Looking at the revisions, the guideline value for Mayur Garden 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 by 100% to Rs 100 per sq.ft. The 2024 revision maintains this value at Rs 100 per sq.ft, which reflects no change from the 2023 revision.

The register has no figures for the years 2002, 2003, and 2007 regarding this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

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, with the median also being Rs 100 per sq.ft. Mayur Garden's 2024 figure is equal to this median.

• Mayur Gardenphase-1: Rs 100 per sq.ft (2024)
• Mayur Garden Phas-III: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total 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, making the total cost for these fees Rs 9,000. 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 detailed calculations.

Which Sub Registrar Office covers Mayur Garden?

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

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

The guideline value is a crucial factor in property transactions in Gunippalaiyam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. This ensures that both parties are compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Mayur Garden?

The current guideline value of Mayur Garden 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 has remained the same in 2024.

What are the stamp duty and registration fees for properties in Mayur Garden?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,00,000, the total fees would amount to Rs 9,000.

Which office handles property registrations in Mayur Garden?

The Oothukkottai Sub Registrar Office handles property registrations for Mayur Garden. It is located near the government hospital in Uthukottai.

What is the land classification of Mayur Garden?

Mayur Garden is classified as Residential Class I Type - I, indicating its suitability for residential development.