Guideline Value for Husoor Garden

Husoor Garden guideline value

The current guideline value of Husoor Garden, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft. This value is effective from the 2024 revision, which commenced on 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Husoor Garden has changed

In the 2017 revision, the guideline value for Husoor Garden was Rs 804 per sq.ft. This figure increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 1,300 per sq.ft, which is an 8% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Husoor Garden's 2024 figure is below this median.

• Husoor Garden (Ward-20): Rs 1,300 per sq.ft (2024)
• Indira Gandh Street (Ward No.23): Rs 1,300 per sq.ft (2024)
• Guru Raghavendra Samy Colony: Rs 1,300 per sq.ft (2024)
• Guru Ragavendra Nagar (Ward No.11): Rs 1,300 per sq.ft (2024)
• Gurudev Nagar: Rs 1,300 per sq.ft (2024)
• Inner ring road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Husoor Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Husoor Garden?

The Sub Registrar Office that covers Husoor Garden is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the value of the property being sold or purchased, ensuring that the transaction is recorded at a fair value.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the transaction. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Husoor Garden?

The current guideline value of Husoor Garden is Rs 1,300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, reflecting a total increase of 62% over this period.

What are the stamp duty and registration fees for properties in Husoor Garden?

For a property valued at Rs 13,00,000 in Husoor Garden, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Husoor Garden?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Husoor Garden.

What is the land classification for Husoor Garden?

The land classification for Husoor Garden is Residential Class III Type - I, indicating its designated use for residential purposes.