Guideline Value for GILLI GARDEN PHASE-II

Gilli Garden Phase-II guideline value

The current guideline value of Gilli Garden Phase-II is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Kattankulam village and falls under the Salavakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Gilli Garden Phase-II has changed

The guideline value for Gilli Garden Phase-II has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the 2023 revision increased it to Rs 100 per sq.ft, and the most recent 2024 revision has raised it to Rs 103 per sq.ft, marking a 3% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by just 3%. Notably, there are no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Kattankulam

In Kattankulam, there are eight streets under the Salavakkam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 103 per sq.ft. The median value for these streets is Rs 103 per sq.ft, which is equal to the guideline value of Gilli Garden Phase-II.

• Gilli Garden Phase-I: Rs 103 per sq.ft (2024)
• Gandhi Nagar: Rs 102 per sq.ft (2024)
• Deepam Ambani Nagar: Rs 103 per sq.ft (2024)
• Mgr Nagar Phase-I: Rs 103 per sq.ft (2024)
• Mgr Nagar Phase-II: Rs 103 per sq.ft (2024)
• Palace Estate Avenue: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Gilli Garden Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value would be Rs 1,03,000. The stamp duty at 7% would amount to Rs 7,210, and the registration fee at 2% would be Rs 2,060. Together, the total cost for these fees would be Rs 9,270. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gilli Garden Phase-II?

The Sub Registrar Office that covers Gilli Garden Phase-II is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial figure used during the registration of property transactions in Kattankulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the official value assigned to the property. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gilli Garden Phase-II?

The current guideline value of Gilli Garden Phase-II is Rs 103 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Gilli Garden Phase-II?

The land classification for Gilli Garden Phase-II is Residential Special Type - I.

What are the stamp duty and registration fees for property in Gilli Garden Phase-II?

For a property valued at Rs 1,03,000, the stamp duty is Rs 7,210 and the registration fee is Rs 2,060, totaling Rs 9,270.

Which office handles property registrations for Gilli Garden Phase-II?

The Salavakkam Sub Registrar Office handles property registrations for Gilli Garden Phase-II, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.