Guideline Value for Marvel Shire Nagar

Marvel Shire Nagar guideline value

The current guideline value for Marvel Shire Nagar, located in Irunkattukottai village, is Rs 800 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification within the jurisdiction of the Sriperumpudur SRO.

How the guideline value of Marvel Shire Nagar has changed

Over the years, the guideline value of Marvel Shire Nagar has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, this value dropped to Rs 536 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 800 per sq.ft, and the current 2024 revision continues this rate at Rs 800 per sq.ft, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The overall change from the 2007 revision to the 2024 revision reflects a 60% increase. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irunkattukottai

In Irunkattukottai village, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Marvel Shire Nagar is above this median.

• Mecca Nagar: Rs 600 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 600 per sq.ft (2024)
• M.G.R.Street: Rs 250 per sq.ft (2024)
• Madhavan Nagar: Rs 400 per sq.ft (2024)
• Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Nehru Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Marvel Shire Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total charges Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Marvel Shire Nagar?

The Sub Registrar Office that covers Marvel Shire Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Irunkattukottai, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the basis for calculating these fees, ensuring that they are aligned with the official valuation set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Accurate knowledge of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Marvel Shire Nagar?

The current guideline value of Marvel Shire Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 800 per sq.ft in 2023 and 2024, showing no change. The value was Rs 536 per sq.ft in 2017 and Rs 800 per sq.ft in 2012.

What is the land classification for Marvel Shire Nagar?

Marvel Shire Nagar falls under the land classification of Residential Special Type - I. This classification is important for understanding the zoning and usage regulations for the area.

What are the stamp duty and registration fees for property in Marvel Shire Nagar?

For a plot of 1,000 sq.ft at the guideline value of Rs 800 per sq.ft, the total guideline value is Rs 8,00,000. The stamp duty would be Rs 56,000, and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where is the Sub Registrar Office for Marvel Shire Nagar located?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in Marvel Shire Nagar.