Guideline Value for Mavsorva Garden

Mavsorva Garden guideline value

The current guideline value of Mavsorva Garden is Rs 350 per sq.ft, effective from 1 July 2024. This locality is situated in Vadamelpakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Mavsorva Garden has changed

Over the years, the guideline value of Mavsorva Garden has seen several revisions. The most recent revisions are as follows: in 2012, the value was Rs 350 per sq.ft, which remained unchanged in 2017 when it dropped to Rs 234 per sq.ft. The guideline value then increased by 50% to Rs 350 per sq.ft in 2023 and has remained the same in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a 50% increase from 2017 to 2023, resulting in an overall change of 0% from 2012 to 2024. The guideline value has consistently been Rs 350 per sq.ft since 2023, indicating stability in the recent revisions.

Guideline values in Vadamelpakkam

In Vadamelpakkam, there are 19 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 350 to Rs 1,000 per sq.ft. The median guideline value is Rs 350 per sq.ft, which is equal to the current value of Mavsorva Garden.

• Mavasorra Garden Extension: Rs 350 per sq.ft (2024)
• Krishna Nagar: Rs 350 per sq.ft (2024)
• Kannaya Garden: Rs 975 per sq.ft (2024)
• Paradise City: Rs 1,000 per sq.ft (2024)
• Paradise City Extension: Rs 1,000 per sq.ft (2024)
• Ganthi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Mavsorva Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mavsorva Garden?

The Mavsorva Garden area falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Vadamelpakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the baseline value of the property. It is essential to consider this value when negotiating sale prices, as it impacts the overall transaction costs.

Frequently asked questions

What is the current guideline value of Mavsorva Garden?

The current guideline value of Mavsorva Garden is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since 2023, with a previous drop to Rs 234 per sq.ft in 2017. Overall, from 2012 to 2024, there has been no change in the guideline value.

What are the other streets in Vadamelpakkam with their guideline values?

Other streets in Vadamelpakkam have varying guideline values, with rates ranging from Rs 350 to Rs 1,000 per sq.ft. The median value is Rs 350 per sq.ft, which aligns with Mavsorva Garden's current rate.

What is the registration fee for property in Mavsorva Garden?

The registration fee for property in Mavsorva Garden is calculated based on the guideline value. For a plot valued at Rs 3,50,000, the registration fee would be Rs 7,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Mavsorva Garden?

The Gooduvancheri Sub Registrar Office covers Mavsorva Garden and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.