Guideline Value for Collector Garden St

Collector Garden St guideline value

The current guideline value of Collector Garden St is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Collector Garden St has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft. Following that, the 2023 revision saw a significant increase to Rs 2,500 per sq.ft, which was then revised again in 2024 to Rs 2,750 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, the changes were notable: from 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Collector Garden St's 2024 figure above this median.

• Chotta John Street: Rs 1,100 per sq.ft (2024)
• Cholamannan Street: Rs 1,650 per sq.ft (2024)
• Chokkanathar Street: Rs 2,750 per sq.ft (2024)
• Cross Street: Rs 1,650 per sq.ft (2024)
• Chitlapakkam Ist Main Road: Rs 3,300 per sq.ft (2024)
• Chitlapakkam IInd Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Collector Garden St

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Collector Garden St?

The Collector Garden St falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is referenced to calculate the applicable duties. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Collector Garden St?

The current guideline value of Collector Garden St is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the 2024 value being Rs 2,750 per sq.ft, up from Rs 2,500 per sq.ft in 2023. The value was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, with Collector Garden St's 2024 figure of Rs 2,750 per sq.ft being above this median.

What are the stamp duty rates applicable in Tamil Nadu?

The stamp duty in Tamil Nadu is generally charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Which office handles property registrations for Collector Garden St?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Collector Garden St, located at No.26, Mes Road, East Tambaram, Chennai-600059.