Guideline Value for Chennai Garden

Chennai Garden guideline value

The current guideline value of Chennai Garden is Rs 500 per sq.ft. This area is located in Sonalur village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Chennai Garden has changed

The guideline value for Chennai Garden has seen several revisions over the years. In the 2007 revision, the value was Rs 70 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision, marking a remarkable increase of 614%. However, by the 2017 revision, the value dropped to Rs 335 per sq.ft, a decrease of 33%. The most recent revision in 2023 set the guideline value back to Rs 500 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 614%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Sonalur

Currently, there are no specific village figures available for Sonalur. Chennai Garden is the only street mentioned under the Gooduvancheri SRO. Unfortunately, there are no other streets in Sonalur provided in the available data.

Stamp duty and registration fee for property in Chennai Garden

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, which totals Rs 35,000, and the registration fee is at 2%, amounting to Rs 10,000. Together, the total fees would be Rs 45,000. 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 Chennai Garden?

The Sub Registrar Office covering Chennai Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Sonalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When buying or selling property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chennai Garden?

The current guideline value of Chennai Garden is Rs 500 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in 2023.

What is the land classification for Chennai Garden?

Chennai Garden is classified as Residential Special Type - II.

What is the address of the Sub Registrar Office for Chennai Garden?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 500 per sq.ft incurs total fees of Rs 45,000.