Guideline Value for Grace Garden

Grace Garden guideline value

The current guideline value of Grace Garden, located in Agraharam Male village under the Poonamallee SRO, is Rs 770 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Grace Garden has changed

Over the years, the guideline value of Grace Garden has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the latest 2024 revision raised it further to Rs 770 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 to 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Agraharam Male

In Agraharam Male, there are 16 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,400 per sq.ft. The median value is Rs 770 per sq.ft, making Grace Garden's 2024 figure equal to this median.

• Bethel Nagar Annex: Rs 770 per sq.ft (2024)
• Bethel Nagar: Rs 770 per sq.ft (2024)
• ARK Aveune: Rs 770 per sq.ft (2024)
• Mid Town Avenue: Rs 1,100 per sq.ft (2024)
• Shaloom Avenue: Rs 770 per sq.ft (2024)
• Sri Chethan Avenue: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Grace Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 Grace Garden?

The Sub Registrar Office that covers Grace Garden is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Agraharam Male. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that all transactions are assessed fairly and consistently, based on the established rates for different areas. This helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Grace Garden?

The current guideline value of Grace Garden is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Grace Garden?

The land classification for Grace Garden is Residential Class I Type - I.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Grace Garden?

The Poonamallee Sub Registrar Office handles property registrations for Grace Garden, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.