Guideline Value for Garden City

Garden City guideline value

The current guideline value of Garden City, located in Malaipattu village under the Sunguvarchattram SRO, is Rs 441 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Garden City has changed

The guideline value for Garden City has seen several revisions over the years. In the 2007 revision, the value was Rs 293 per sq.ft, which increased to Rs 440 per sq.ft in 2012. However, it then decreased to Rs 295 per sq.ft in 2017. The value remained the same at Rs 441 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%. The overall change from 2007 to 2024 shows an increase of 51%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Malaipattu

Malaipattu village has 36 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 150 to Rs 1,181 per sq.ft. The median guideline value for the village is Rs 200 per sq.ft, positioning Garden City above this median.

• Ganesh Nagar: Rs 200 per sq.ft (2024)
• Gandhi Street: Rs 200 per sq.ft (2024)
• Golden City: Rs 441 per sq.ft (2024)
• Farm Scapes Layout: Rs 200 per sq.ft (2024)
• Chakravarthy Avenue: Rs 441 per sq.ft (2024)
• Kalaizhnar Street: Rs 150 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 441 per sq.ft, the total guideline value would be Rs 4,41,000. The stamp duty at 7% would amount to Rs 30,870, and the registration fee at 2% would be Rs 8,820, resulting in a total of Rs 39,690. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Malaipattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Garden City?

The current guideline value of Garden City is Rs 441 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, with a significant increase of 49% from 2017 to 2023 and an overall increase of 51% from 2007 to 2024.

What is the land classification for Garden City?

Garden City is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where is the Sub Registrar Office for Garden City located?

The Sub Registrar Office for Garden City is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Garden City?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 30,870.