Guideline Value for New Sakthivel Garden

New Sakthivel Garden guideline value

The current guideline value of New Sakthivel Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Sakthivel Garden has changed

The guideline value of New Sakthivel Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking an increase of 87%. The most recent revision in 2024 has further raised the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that 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 38%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,102 per sq.ft. The guideline value for New Sakthivel Garden is below this median.

• New Mahaveer Garden: Rs 1,100 per sq.ft (2024)
• New Krishna Nagar: Rs 1,102 per sq.ft (2024)
• New Adhinath Colony: Rs 1,102 per sq.ft (2024)
• Nethaji Subhash Chandrabose Street: Rs 1,650 per sq.ft (2024)
• Nethaji Subash Chandra Bose Nagar: Rs 1,650 per sq.ft (2024)
• N.S.K. Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in New Sakthivel Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that 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 New Sakthivel Garden?

The Sub Registrar Office that covers New Sakthivel Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puzhal. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the sale price must be compared with the guideline value. The higher of the two values is used to calculate the stamp duty, ensuring compliance with local regulations and tax obligations.

Frequently asked questions

What is the current guideline value of New Sakthivel Garden?

The current guideline value of New Sakthivel Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, with notable increases in the years 2017 and 2023.

What is the registration office for New Sakthivel Garden?

The registration office for New Sakthivel Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the stamp duty rate for properties in New Sakthivel Garden?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and to calculate the stamp duty and registration fees during the sale or purchase of a property.