Guideline Value for KOUSALYA GARDEN PHASE-III

Kousalya Garden Phase-III guideline value

The current guideline value of Kousalya Garden Phase-III is Rs 350 per sq.ft, effective from 1 July 2024. This property is located in Uoonamali village under the Madurandakam SRO, classified as Residential Class I Type - II.

How the guideline value of Kousalya Garden Phase-III has changed

Over the years, the guideline value for Kousalya Garden Phase-III has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 350 per sq.ft. The 2017 revision saw a decrease to Rs 234 per sq.ft, marking a -33% change from 2012. From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 350 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 350 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uoonamali

In Uoonamali, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 701 per sq.ft, with a median of Rs 200 per sq.ft. Kousalya Garden Phase-III is above this median, reflecting its current valuation.

• Kowsalya Garden: Rs 350 per sq.ft (2024)
• Ram Nagar: Rs 200 per sq.ft (2024)
• Anantham Nagar: Rs 200 per sq.ft (2024)
• Anandh Nagar: Rs 200 per sq.ft (2024)
• Saravana Nagar: Rs 701 per sq.ft (2024)
• Srinivasa Avenue: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kousalya Garden Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value is Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kousalya Garden Phase-III?

The Kousalya Garden Phase-III falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Uoonamali. It serves as a benchmark for assessing the value of property for tax purposes, ensuring that both buyers and sellers are aware of the official valuation set by the government.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in the property transaction process. This ensures transparency and compliance with legal requirements during property transfers.

Frequently asked questions

What is the current guideline value of Kousalya Garden Phase-III?

The current guideline value of Kousalya Garden Phase-III is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since 2012, with a decrease to Rs 234 per sq.ft in 2017, followed by an increase back to Rs 350 per sq.ft in 2023 and 2024.

What is the land classification for Kousalya Garden Phase-III?

Kousalya Garden Phase-III is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kousalya Garden Phase-III?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at 7%.