Guideline Value for GARDEN HOMES

Garden Homes guideline value

The current guideline value of Garden Homes in Vengaivasal village is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Mixed Type - II.

How the guideline value of Garden Homes has changed

The guideline value for Garden Homes has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 regarding this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value for Garden Homes.

• Gayathri Nagar: Rs 3,300 per sq.ft (2024)
• G.D Nagar: Rs 2,750 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,700 per sq.ft (2024)
• Glory Nagar: Rs 2,400 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Garden Homes

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost Rs 2,43,000. Please 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 more details.

Which Sub Registrar Office covers Garden Homes?

The Sub Registrar Office covering Garden Homes is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Vengaivasal

The guideline value is a critical factor when registering property transactions in Vengaivasal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges. It is essential for buyers and sellers to be aware of the current guideline value to ensure accurate financial planning during the transaction process.

Frequently asked questions

What is the current guideline value of Garden Homes?

The current guideline value of Garden Homes is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value in Vengaivasal?

The median guideline value in Vengaivasal is Rs 2,700 per sq.ft, which is the same as the current value for Garden Homes.

What are the stamp duty rates for properties in Garden Homes?

The stamp duty for properties in Garden Homes is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.