Guideline Value for GILLI GARDEN PHASE-I

Gilli Garden Phase-I guideline value

The current guideline value of Gilli Garden Phase-I is Rs 103 per sq.ft, effective from 1 July 2024. This property is located in Kattankulam village under the Salavakkam SRO, classified as Residential Special Type - I.

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

The guideline value for Gilli Garden Phase-I has seen several revisions over the years. In 2012, the value was set at Rs 100 per sq.ft, which changed to Rs 67 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 100 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has increased the guideline value to Rs 103 per sq.ft, a change of 3% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 3%.

Guideline values in Kattankulam

In Kattankulam, there are 8 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 103 per sq.ft, with a median value of Rs 103 per sq.ft. The guideline value for Gilli Garden Phase-I matches this median.

• Gilli Garden Phase-II: 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-I

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

Which Sub Registrar Office covers Gilli Garden Phase-I?

The Sub Registrar Office that covers Gilli Garden Phase-I 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattankulam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

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

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

How 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 back to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification of Gilli Garden Phase-I?

Gilli Garden Phase-I is classified as Residential Special Type - I.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Gilli Garden Phase-I?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged on the guideline value.