Guideline Value for GIRIJA GARDEN

Girija Garden guideline value

The current guideline value of Girija Garden is Rs 8,800 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Girija Garden has changed

The guideline value for Girija Garden has seen several revisions over the years. The earliest available figure is from 2007, where the value was Rs 1,540 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a rise of 419%. However, the value then decreased to Rs 5,360 per sq.ft in 2017, a decline of 33%. The 2023 revision set the value at Rs 8,000 per sq.ft, which was then increased to Rs 8,800 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 figure to the current 2024 figure, the guideline value has risen by 471%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Girija Garden.

• Gokulam Colony: Rs 3,300 per sq.ft (2024)
• Ganesh Ram Colony: Rs 8,800 per sq.ft (2024)
• Gopathy Narayanan Chetty Street (Bazaar Road): Rs 8,800 per sq.ft (2024)
• Gopathy Narayan Chetty Lane: Rs 8,800 per sq.ft (2024)
• Govinda Samy Nagar: Rs 7,700 per sq.ft (2024)
• Govt. Quarters II Class: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Girija Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, leading to a total of Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Girija Garden?

The Sub Registrar Office that covers Girija Garden is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

When a property is registered, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Girija Garden?

The current guideline value of Girija Garden is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 1,540 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 471%.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is 7%, which is applied to the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Girija Garden?

The Sub Registrar Office for Girija Garden is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street Alwarpet, Chennai -600018.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, which is the same as the current guideline value for Girija Garden.