Guideline Value for GURU GARDEN

Guru Garden guideline value

The current guideline value of Guru Garden in Piralayambakkam village is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Guru Garden has changed

The guideline value for Guru Garden has seen several revisions over the years. The 2017 revision set the value at Rs 67 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 100 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. The current value of Rs 100 per sq.ft, effective from 1 July 2024, reflects no change from the previous year, maintaining the same rate as in 2023. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Piralayambakkam

In Piralayambakkam, five streets under the Ponneri SRO have a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 100 per sq.ft. Guru Garden's 2024 figure is equal to this median.

• Johny Nagar: Rs 100 per sq.ft (2024)
• Annai Gomathy Nagar: Rs 100 per sq.ft (2024)
• B.I.City: Rs 300 per sq.ft (2024)
• B I City Phase-I: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Guru Garden

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guru Garden?

The Guru Garden area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Piralayambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuations set by the government.

Frequently asked questions

What is the current guideline value of Guru Garden?

The current guideline value of Guru Garden is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What is the land classification of Guru Garden?

Guru Garden is classified as Residential Class II Type - I, indicating its designation for residential use within the area.

What are the stamp duty and registration fees for property in Guru Garden?

For a 1,000 sq.ft plot valued at Rs 100 per sq.ft, the total stamp duty and registration fees would amount to Rs 9,000, calculated based on the guideline value.

Where is the Sub Registrar Office for Guru Garden located?

The Ponneri Sub Registrar Office, which covers Guru Garden, is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.