Guideline Value for KUMARI GARDEN

Kumari Garden guideline value

The current guideline value of Kumari Garden, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class IV Type - I land classification.

How the guideline value of Kumari Garden has changed

Over the years, the guideline value for Kumari Garden has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 13% increase. Overall, from 2012 to 2024, the Kumari Garden guideline value has increased by 13%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values 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, which is the same as the current value for Kumari Garden.

• Kuthus Garden - I: Rs 3,300 per sq.ft (2024)
• Kuthus Garden II: Rs 3,300 per sq.ft (2024)
• Krishnan Garden: Rs 1,000 per sq.ft (2024)
• Krishna Garden: Rs 1,000 per sq.ft (2024)
• Lingesan Garden: Rs 1,700 per sq.ft (2024)
• Madhusudanam Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kumari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumari Garden?

The Kumari Garden area falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. These fees are mandatory and are based on the guideline value or the sale price, whichever is higher, ensuring that the appropriate taxes are collected for property transactions.

Frequently asked questions

What is the current guideline value of Kumari Garden?

The current guideline value of Kumari Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, which is the same as the current value for Kumari Garden.

What fees are associated with buying property in Kumari Garden?

When buying property in Kumari Garden, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

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