Guideline Value for KHAJAMOHIDEEN GARDEN

Khajamohideen Garden guideline value

The current guideline value of Khajamohideen Garden is Rs 2,800 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 II Type - I.

How the guideline value of Khajamohideen Garden has changed

Over the years, the guideline value of Khajamohideen Garden has seen significant changes. The 2012 revision set the value at Rs 2,500 per sq.ft, which then dropped to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry 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 Khajamohideen Garden's 2024 figure above this median.

• Krishna Garden: Rs 1,000 per sq.ft (2024)
• Krishnan Garden: Rs 1,000 per sq.ft (2024)
• Karthik Garden: Rs 1,700 per sq.ft (2024)
• Karthikeyan Garden: Rs 1,100 per sq.ft (2024)
• Karpaga Vinayagar Street: Rs 1,700 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Khajamohideen Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Khajamohideen Garden?

The Sub Registrar Office that covers Khajamohideen 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value is checked to ensure that the transaction is compliant with local regulations. Buyers should be aware that the stamp duty is charged based on the higher amount between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Khajamohideen Garden?

The current guideline value of Khajamohideen Garden is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification of Khajamohideen Garden?

Khajamohideen Garden is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is set at 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2%.

Where can I find the Neelankarai Sub Registrar Office?

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