Guideline Value for Garden City Elite

Garden City Elite guideline value

The current guideline value for Garden City Elite is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Chengalpattu Natham village under the Chengleput Joint II SRO, classified as Residential Special Type - III.

How the guideline value of Garden City Elite has changed

Over the years, the guideline value for Garden City Elite has undergone several revisions. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 2,000 per sq.ft, which was then increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This change reflects a significant adjustment in the guideline value, marking a rise from Rs 2,000 to Rs 2,200 per sq.ft between 2023 and 2024. The current figure aligns with the median guideline value for other streets in Chengalpattu Natham.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Garden City Elite. Below are the guideline values for other streets in Chengalpattu Natham:

• Garden City: Rs 2,200 per sq.ft (2024)
• GANGAIAMMAN KOIL STREET (Malai Road): Rs 4,400 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 4,400 per sq.ft (2024)
• Gandhi Salai (A) Mettu Street: Rs 4,400 per sq.ft (2024)
• Gandhi Salai: Rs 4,400 per sq.ft (2024)
• G.S.T.Salai: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Garden City Elite

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 further assistance.

Which Sub Registrar Office covers Garden City Elite?

The Sub Registrar Office that covers Garden City Elite is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Chengalpattu Natham. It serves as a reference point for the valuation of the property, ensuring that the transaction is recorded at a fair value.

When registering a property, the guideline value helps in calculating the applicable fees, which are necessary for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Garden City Elite?

The current guideline value for Garden City Elite is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Garden City Elite?

Garden City Elite is classified as Residential Special Type - III, which indicates its designated use within the local zoning regulations.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about this office through the provided link.