Guideline Value for GK GARDEN

Gk Garden guideline value

The current guideline value of Gk Garden is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Sothupakkam village under the Acchirapakkam SRO, classified as Residential Special Type - I.

How the guideline value of Gk Garden has changed

In the 2024 revision, the guideline value for Gk Garden is set at Rs 500 per sq.ft, which is the same as the 2023 revision figure. There have been no changes in the guideline value between 2023 and 2024, indicating a consistent valuation over this period.

Looking back further, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street. Therefore, the only available figures are from the 2023 and 2024 revisions, both standing at Rs 500 per sq.ft.

Guideline values in Sothupakkam

In Sothupakkam, five streets under the Acchirapakkam SRO have a 2024 guideline value ranging from Rs 500 to Rs 523 per sq.ft, with Gk Garden's value aligning with the median of Rs 500 per sq.ft. The other streets in Sothupakkam are as follows:

• Jayam Nagar: Rs 500 per sq.ft (2024)
• Bathmavathi Nagar: Rs 500 per sq.ft (2024)
• Thiru Sangu Lakshmi Nagar: Rs 523 per sq.ft (2024)
• V.R.Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Gk Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total cost for these fees Rs 45,000. Note that 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 detailed calculations.

Which Sub Registrar Office covers Gk Garden?

The Gk Garden area falls under the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Sothupakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for assessing the transaction price. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Gk Garden?

The current guideline value of Gk Garden is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

There has been no change in the guideline value for Gk Garden from 2023 to 2024, remaining at Rs 500 per sq.ft.

What are the guideline values of other streets in Sothupakkam?

Other streets in Sothupakkam have guideline values ranging from Rs 500 to Rs 523 per sq.ft, with Gk Garden's value being Rs 500 per sq.ft, which is the median for the area.

What is the stamp duty for property in Gk Garden?

The stamp duty for a property in Gk Garden is calculated at 7% of the guideline value. For a 1,000 sq.ft plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000.

Where is the Sub Registrar Office for Gk Garden located?

The Acchirapakkam Sub Registrar Office, which covers Gk Garden, is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.