Guideline Value for Hanuman Garden

Hanuman Garden guideline value

The current guideline value of Hanuman Garden is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Hanuman Garden has changed

The guideline value for Hanuman Garden has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 200 per sq.ft, which remains unchanged from the 2023 revision. Prior to this, the 2017 revision recorded a guideline value of Rs 134 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also set the value at Rs 200 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained constant at Rs 200 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 concerning this street. This lack of data means that the guideline value has remained consistent in the more recent revisions, reflecting stability in the current valuation.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Hanuman Garden is below this median, indicating a lower valuation compared to many other streets in the village.

• Hi-tech city Extension: Rs 200 per sq.ft (2024)
• Green Garden: Rs 250 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)
• Indira Nagar Part II: Rs 200 per sq.ft (2024)
• Giriam Avenue: Rs 500 per sq.ft (2024)
• Jayabalan Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Hanuman Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total charges to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hanuman Garden?

The Sub Registrar Office that covers Hanuman Garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Somangalam. It is used as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware that the guideline value can influence the overall cost of registration.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions reflect the official valuation of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Hanuman Garden?

The current guideline value of Hanuman Garden is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Hanuman Garden has changed from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023 and 2024, with a notable increase of 49% from 2017 to 2023.

What is the land classification for Hanuman Garden?

Hanuman Garden is classified as Residential Class III Type - I, which indicates its suitability for residential development.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,00,000, resulting in a stamp duty of Rs 14,000 and a registration fee of Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Hanuman Garden located?

The Sub Registrar Office covering Hanuman Garden is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.