Guideline Value for Chandrika Garden

Chandrika Garden guideline value

The current guideline value of Chandrika Garden, located in Hastinapuram village under the Pallavaram SRO, is Rs 1,650 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Chandrika Garden has changed

The guideline value for Chandrika Garden has undergone several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which then increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a 275% increase. However, in the 2017 revision, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then saw a substantial rise to Rs 1,500 per sq.ft in the 2023 revision, followed by another increase to the current Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. The guideline value for Chandrika Garden is below this median.

• Chilapathikaram Street: Rs 3,850 per sq.ft (2024)
• Buthar Street: Rs 1,650 per sq.ft (2024)
• Chitlapakkam Main Road: Rs 4,400 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 3,300 per sq.ft (2024)
• Dhamodharan Nagar: Rs 2,970 per sq.ft (2024)
• Bashiyam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chandrika Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges Rs 1,48,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chandrika Garden?

The Sub Registrar Office that covers Chandrika Garden is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chandrika Garden?

The current guideline value of Chandrika Garden is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 313% over the years.

What is the land classification for Chandrika Garden?

The land classification for Chandrika Garden is Residential Class III Type - I.

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

The Sub Registrar Office for Chandrika Garden is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Chandrika Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.