Guideline Value for 7 HILLS GARDEN

7 Hills Garden guideline value

The current guideline value of 7 Hills Garden, located in Nallur village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of 7 Hills Garden has changed

The guideline value for 7 Hills Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was followed by a decrease to Rs 469 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 700 per sq.ft in the 2023 revision, and then rose again to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2012 to 2017, it decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nallur

Nallur village has a total of 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value of Rs 770 per sq.ft for 7 Hills Garden is above this median.

• Vijayalakshmi Nagar: Rs 440 per sq.ft (2024)
• Vijaya Garden: Rs 440 per sq.ft (2024)
• Varalakshmi Nagar: Rs 440 per sq.ft (2024)
• Sri Anandavalli Street: Rs 770 per sq.ft (2024)
• Sharmila Diya Garden: Rs 440 per sq.ft (2024)
• Selva Vinayagar Koil 2nd Cross Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in 7 Hills 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 to Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers 7 Hills Garden?

The 7 Hills Garden area falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is checked to ensure that the transaction is registered at a value that reflects the current market standards. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of 7 Hills Garden?

The current guideline value of 7 Hills 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 to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for 7 Hills Garden?

7 Hills Garden is classified under Residential Class I Type - I land classification.

Where can I find information about stamp duty and registration fees?

You can find information about stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles the registration for 7 Hills Garden?

The Redhills Sub Registrar Office handles the registration for 7 Hills Garden, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.