Guideline Value for ROSE GARDEN

Rose Garden guideline value

The current guideline value of Rose Garden in Mambakkam village is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Rose Garden has changed

The guideline value for Rose Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision, marking a decline of 33%. Subsequently, the value rose significantly to Rs 700 per sq.ft in the 2023 revision and further increased to Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mambakkam

In Mambakkam, there are 26 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value for Rose Garden is above this median.

• Selva Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Pudhu Mambakkam Pilliyarkoil Street: Rs 330 per sq.ft (2024)
• Om Sakthi Avenue: Rs 770 per sq.ft (2024)
• Old Mambakkam Sunambedu Road: Rs 330 per sq.ft (2024)
• Old Mambakkam Ora Veedhi Street: Rs 330 per sq.ft (2024)
• Old Mambakkam Old Brammanar Street, Jayanagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Rose Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. 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 details.

Which Sub Registrar Office covers Rose Garden?

The Rose Garden area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Mambakkam, as it determines the amount of stamp duty and registration fees payable during the sale. Buyers and sellers should consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rose Garden?

The current guideline value of Rose Garden is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Rose Garden?

Rose Garden is classified as Commercial Class I Type - I according to the guidelines set by the relevant authorities.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Rose Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.