Guideline Value for Mahaver Garden

Mahaver Garden guideline value

The current guideline value of Mahaver Garden is Rs 3,550 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Mahaver Garden has changed

The guideline value of Mahaver Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 3,200 per sq.ft. This figure was reduced to Rs 2,144 per sq.ft in the 2017 revision. However, the 2023 revision brought the value back up to Rs 3,200 per sq.ft, and the latest 2024 revision increased it further to Rs 3,550 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The transition from 2023 to 2024 marked an 11% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has risen by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO, with the 2024 guideline values ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, placing Mahaver Garden's 2024 figure above this median.

• Maha Vishnu Salai: Rs 3,100 per sq.ft (2024)
• Mahavishnu Street: Rs 3,100 per sq.ft (2024)
• Maharaja Garden: Rs 3,550 per sq.ft (2024)
• M.A.Koil 3rd Street: Rs 1,950 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Mahalakshmi Nagar Annexe: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Mahaver Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value amounts to Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, bringing the total fees together to Rs 3,19,500. 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 Mahaver Garden?

The Sub Registrar Office that covers Mahaver Garden is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair value as per government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This means that the buyer should be aware of the current guideline value to ensure compliance with the legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Mahaver Garden?

The current guideline value of Mahaver Garden is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Mahaver Garden has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,550 per sq.ft in 2024.

What is the range of guideline values in Ramapuram?

The guideline values in Ramapuram range from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft.

What are the stamp duty and registration fees for property in Mahaver Garden?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 35,50,000, with stamp duty at Rs 2,48,500 and registration fees at Rs 71,000, totaling Rs 3,19,500.

Which Sub Registrar Office covers Mahaver Garden?

The Chennai South Joint II Sub Registrar Office covers Mahaver Garden, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.