Guideline Value for SRI SANKARA VETRIVEL GARDEN

Sri Sankara Vetrivel Garden guideline value

The current guideline value of Sri Sankara Vetrivel Garden is Rs 248 per sq.ft, effective from 1 July 2024. This property is located in Mabuskanpettai village under the Thiruvottiyur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Sankara Vetrivel Garden has changed

The guideline value for Sri Sankara Vetrivel Garden has seen several revisions over the years. The 2012 revision set the value at Rs 225 per sq.ft, which decreased to Rs 151 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 50% to reach Rs 226 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 248 per sq.ft, representing a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from Rs 225 per sq.ft in 2012 to Rs 248 per sq.ft in 2024.

Guideline values in Mabuskanpettai

Mabuskanpettai village has eight streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 165 to Rs 1,000 per sq.ft. The median value is Rs 248 per sq.ft, and Sri Sankara Vetrivel Garden's guideline value matches this median.

• Sri Sankara Balamurugan Nagar: Rs 248 per sq.ft (2024)
• Sri Krishna Nagar Phase II: Rs 248 per sq.ft (2024)
• Sri Kalasathamman Nagar: Rs 248 per sq.ft (2024)
• Sri Gomathi Amman Nagar: Rs 165 per sq.ft (2024)
• Vijay Nagar: Rs 165 per sq.ft (2024)
• Dr. Ambetkar Nagar: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sankara Vetrivel Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value would be Rs 2,48,000. The stamp duty at 7% would amount to Rs 17,360, while the registration fee at 2% would be Rs 4,960. Together, the total cost for stamp duty and registration would be Rs 22,320. 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 more detailed calculations.

Which Sub Registrar Office covers Sri Sankara Vetrivel Garden?

The Sub Registrar Office that covers Sri Sankara Vetrivel Garden is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mabuskanpettai. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

During the registration process, buyers and sellers must ensure that the guideline value is accurately reflected in the transaction documents. This helps prevent any legal issues and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Sankara Vetrivel Garden?

The current guideline value of Sri Sankara Vetrivel Garden is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 248 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and subsequent increases.

What is the registration office for Sri Sankara Vetrivel Garden?

The registration office for Sri Sankara Vetrivel Garden is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Mabuskanpettai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 248 per sq.ft would incur a stamp duty of Rs 17,360.

What other streets have guideline values in Mabuskanpettai?

Other streets in Mabuskanpettai include Sri Sankara Balamurugan Nagar, Sri Krishna Nagar Phase II, Sri Kalasathamman Nagar, Sri Gomathi Amman Nagar, Vijay Nagar, and Dr. Ambetkar Nagar, each with their respective guideline values for 2024.