Guideline Value for KUTHUS GARDEN - I

Kuthus Garden - I guideline value

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

How the guideline value of Kuthus Garden - I has changed

The guideline value for Kuthus Garden - I has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then rose again to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, where Kuthus Garden - I's value is above the median of Rs 1,700 per sq.ft.

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

Stamp duty and registration fee for property in Kuthus Garden - I

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would amount to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuthus Garden - I?

The Sub Registrar Office that covers Kuthus Garden - I 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 a crucial factor when registering property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the buyer and seller must ensure that the sale price is either equal to or above the guideline value to avoid complications during registration. This ensures that the government receives the appropriate taxes based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kuthus Garden - I?

The current guideline value of Kuthus Garden - I 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then 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 for Kuthus Garden - I?

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

What is the stamp duty rate for properties in Kuthus Garden - I?

The stamp duty rate for properties in Kuthus Garden - I is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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