Guideline Value for KAILASH GARDEN

Kailash Garden guideline value

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

How the guideline value of Kailash Garden has changed

The guideline value for Kailash Garden has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a rise of 124%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 65%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Kailash Garden above this median.

• Kalaingar Karunanidhi Street: Rs 2,800 per sq.ft (2024)
• Jayaraj Garden: Rs 1,100 per sq.ft (2024)
• Jayapal Garden: Rs 1,100 per sq.ft (2024)
• Jayanthi / Kodanda Pani Garden: Rs 1,000 per sq.ft (2024)
• Jayanthi Garden: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kailash Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 detailed calculations.

Which Sub Registrar Office covers Kailash Garden?

The Sub Registrar Office that covers Kailash Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is critical when registering property transactions in Chemmancheri. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kailash Garden?

The current guideline value of Kailash Garden 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Kailash Garden?

Kailash Garden is classified as Residential Class I Type - II, which is relevant for determining its guideline value.

How does the guideline value compare to other streets in Chemmancheri?

The guideline value of Kailash Garden is above the median value of Rs 1,700 per sq.ft for the 195 streets in Chemmancheri, indicating a higher valuation compared to many other streets in the area.

Where can I find the Sub Registrar Office for Kailash Garden?

The Sub Registrar Office for Kailash Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.