Guideline Value for P.G.S.Garden

P.G.S.Garden guideline value

The current guideline value of P.G.S.Garden is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Polivakkam village under the Manavalanagar SRO and is classified as Residential Class I Type - I.

How the guideline value of P.G.S.Garden has changed

Over the years, the guideline value for P.G.S.Garden has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision saw a decrease to Rs 335 per sq.ft, but this was followed by a significant increase of 49% to Rs 500 per sq.ft in 2023. The current rate of Rs 500 per sq.ft in 2024 reflects no change from the previous year.

Additionally, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained the same.

Guideline values in Polivakkam

In Polivakkam, there are 80 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 350 to Rs 1,500 per sq.ft, with a median value of Rs 500 per sq.ft. P.G.S.Garden's 2024 figure matches this median value.

• Shri Sai Garden Annex: Rs 550 per sq.ft (2024)
• Sri Ponniamman Nagar: Rs 550 per sq.ft (2024)
• Hariprasad Nagar Extension: Rs 670 per sq.ft (2024)
• Hari Prasad Nagar: Rs 1,000 per sq.ft (2024)
• Gold Green Co-Operative Nagar: Rs 450 per sq.ft (2024)
• Anugriha City: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in P.G.S.Garden

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% is Rs 35,000, and the registration fee at 2% is Rs 10,000, together totaling Rs 45,000. 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 P.G.S.Garden?

The Sub Registrar Office covering P.G.S.Garden is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Polivakkam. It is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation of the property.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of P.G.S.Garden?

The current guideline value of P.G.S.Garden is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and remains the same in 2024.

What are the stamp duty and registration fees for property in P.G.S.Garden?

For a property valued at Rs 5,00,000, the stamp duty is Rs 35,000 and the registration fee is Rs 10,000, totaling Rs 45,000.

Which office handles property registrations for P.G.S.Garden?

The Manavalanagar Sub Registrar Office handles property registrations for P.G.S.Garden, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification for P.G.S.Garden?

P.G.S.Garden is classified as Residential Class I Type - I, indicating its suitability for residential development.