Guideline Value for Maansarovar villa

Maansarovar villa guideline value

The current guideline value for Maansarovar villa in Kolapakkam village is Rs 4,600 per sq.ft, effective from 1 July 2024. This property falls under the Pammal SRO and is classified as Residential Special Type - II.

How the guideline value of Maansarovar villa has changed

The guideline value for Maansarovar villa has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,600 per sq.ft, which is a significant increase from the 2023 revision of Rs 2,800 per sq.ft. There were no figures available for the revisions in 2012, 2007, 2003, and 2002. The 2017 revision also recorded a guideline value of Rs 2,800 per sq.ft, showing no change from the previous figure in 2023.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The change from 2023 to 2024 marks a 64% rise, indicating a substantial adjustment in the valuation of this property type over the recent years.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, positioning Maansarovar villa's 2024 figure above the median.

• Maanasarovar Nagar: Rs 2,750 per sq.ft (2024)
• Madha Nagarn Extn: Rs 2,200 per sq.ft (2024)
• Lalitha Nagar: Rs 2,200 per sq.ft (2024)
• Mahalakshmi Nagar (ward 3): Rs 2,750 per sq.ft (2024)
• Maruthi Nagar: Rs 2,750 per sq.ft (2024)
• Maxworth Nagar Phase I: Rs 3,290 per sq.ft (2024)

Stamp duty and registration fee for property in Maansarovar villa

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, while the registration fee at 2% would be Rs 92,000, bringing the total fees to Rs 4,14,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Maansarovar villa?

The Maansarovar villa is covered by the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Maansarovar villa?

The current guideline value of Maansarovar villa is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,800 per sq.ft in 2023 to Rs 4,600 per sq.ft in 2024. Overall, from 2017 to 2024, the value has risen by 64%.

What is the land classification for Maansarovar villa?

Maansarovar villa is classified as Residential Special Type - II. This classification influences the guideline value and the types of properties that can be developed in the area.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Kolapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 46,00,000, the stamp duty would be Rs 3,22,000 at a rate of 7%.