Guideline Value for ABDUL KARIM GARDEN

Abdul Karim Garden guideline value

The current guideline value of Abdul Karim Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Abdul Karim Garden has changed

The guideline value for Abdul Karim Garden has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase, with the value rising to Rs 3,000 per sq.ft, marking a 124% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase 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, from 2012 to 2024, the guideline value has increased by 65%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, meaning that Abdul Karim Garden's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Abdul Hussain Garden: Rs 3,300 per sq.ft (2024)
• Adhi Lakshmi / Kalaiarasi Garden: Rs 1,100 per sq.ft (2024)
• Alamelu Mangapuram (Sri): Rs 1,700 per sq.ft (2024)
• Ambedkar Street: Rs 1,700 per sq.ft (2024)
• Annai Sathya Street: Rs 1,700 per sq.ft (2024)
• Annamalai Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Karim Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abdul Karim Garden?

The Sub Registrar Office that covers Abdul Karim Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring transparency in property transactions.

When a property is sold, the guideline value helps establish a fair assessment for taxation purposes. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Abdul Karim Garden?

The current guideline value of Abdul Karim Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Abdul Karim Garden?

Abdul Karim Garden is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Abdul Karim Garden?

The Neelankarai Sub Registrar Office covers Abdul Karim Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Abdul Karim Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.