Guideline Value for Garden woodroff Nagar

Garden woodroff Nagar guideline value

The current guideline value of Garden woodroff Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Garden woodroff Nagar has changed

The guideline value for Garden woodroff Nagar has undergone several revisions over the years. In 2003, the value was Rs 166 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007. The 2012 revision saw a rise to Rs 3,000 per sq.ft, but this was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. The 2012 to 2017 period experienced a decrease of 33%, while the increase from 2007 to 2012 was a remarkable 275%. The value rose dramatically from 2003 to 2007 by 382%. Overall, from 2003 to 2024, the guideline value has increased by 1888%. The register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Garden woodroff Nagar.

• Garden Woodraffee Nagar 1 To 4 Main Road: Rs 3,300 per sq.ft (2024)
• Gangadharan nagar: Rs 2,160 per sq.ft (2024)
• Godhandan Nagar: Rs 3,520 per sq.ft (2024)
• Godhandan Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Godhandan Nagar 2nd Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Garden woodroff Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Garden woodroff Nagar?

The Sub Registrar Office that covers Garden woodroff Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When a buyer or seller approaches the registration office, the guideline value will be considered alongside the sale price to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Garden woodroff Nagar?

The current guideline value of Garden woodroff Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 166 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1888% over the years.

What is the land classification for Garden woodroff Nagar?

Garden woodroff Nagar is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

For a property valued at Rs 33,00,000, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office located for this area?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.