Guideline Value for Garden City

Garden City guideline value

The current guideline value of Garden City, located in Chengalpattu Natham village under the Chengleput Joint II SRO, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Garden City has changed

The guideline value of Garden City has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 2,200 per sq.ft, which is a 10% increase from 2023.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Garden City.

• Garden City Elite: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Garden City?

The Sub Registrar Office that covers Garden City 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chengalpattu Natham. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that both parties are aware of the financial obligations involved in the sale. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Garden City?

The current guideline value for Garden City 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 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over these years.

What are the other streets in Chengalpattu Natham with their guideline values?

Other streets in Chengalpattu Natham include Garden City Elite at Rs 2,200 per sq.ft, GANGAIAMMAN KOIL STREET (Malai Road) at Rs 4,400 per sq.ft, and several others, with values ranging from Rs 1,100 to Rs 5,500 per sq.ft.

What fees are associated with buying property in Garden City?

When buying property in Garden City, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Garden City is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the provided link to locate your SRO.