Guideline Value for Hasim Garden

Hasim Garden guideline value

The current guideline value of Hasim Garden, located in Manimangalam A village under the Padappai SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Hasim Garden has changed

The guideline value for Hasim Garden has undergone several revisions over the years. The earliest recorded figure is from 2017, where the guideline value was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a substantial rise of 49% in just six years. The latest revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

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 Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the current guideline value of Hasim Garden.

• Hanif Nagar: Rs 770 per sq.ft (2024)
• Gurukkal Street: Rs 880 per sq.ft (2024)
• Indhumathi Nagar: Rs 1,430 per sq.ft (2024)
• Green City: Rs 1,430 per sq.ft (2024)
• Ganga Nagar: Rs 880 per sq.ft (2024)
• Ganesh Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Hasim Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Hasim Garden?

The Sub Registrar Office that covers Hasim Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of properties in Manimangalam A. When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership.

Buyers and sellers should be aware that the guideline value may differ from the sale price, but the stamp duty is charged based on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Hasim Garden?

The current guideline value of Hasim Garden is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the land classification of Hasim Garden?

Hasim Garden is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft property at the guideline value of Rs 880 per sq.ft, the total stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations in Hasim Garden?

The Padappai Sub Registrar Office handles property registrations for Hasim Garden, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.