Guideline Value for PEARL GARDEN

Pearl Garden guideline value

The current guideline value of Pearl Garden in Moolacheri village is Rs 3,410 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Mixed Special Type - II.

How the guideline value of Pearl Garden has changed

The guideline value for Pearl Garden has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,410 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,100 per sq.ft. Prior to 2023, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 3,100 per sq.ft in 2023 to Rs 3,410 per sq.ft in 2024. The previous revisions do not provide any figures for this street, indicating a lack of recorded changes in those years.

Guideline values in Moolacheri

In Moolacheri, there are 17 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,400 per sq.ft, with a median value of Rs 2,710 per sq.ft. Pearl Garden's 2024 figure is above this median.

• Raj Garden: Rs 2,530 per sq.ft (2024)
• M R Nagar: Rs 2,710 per sq.ft (2024)
• Sathyam Golden Nest: Rs 2,710 per sq.ft (2024)
• Serene Avenue: Rs 4,400 per sq.ft (2024)
• Maduraipakkam Road: Rs 1,650 per sq.ft (2024)
• Kamacthi Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Pearl Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,410 per sq.ft, the total guideline value amounts to Rs 34,10,000. The stamp duty at 7% would be Rs 2,38,700, and the registration fee at 2% would be Rs 68,200, bringing the total cost for these fees to Rs 3,06,900. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Pearl Garden?

The Pearl Garden area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Moolacheri, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process. This helps in avoiding any legal issues that may arise from undervaluing or overvaluing a property.

Frequently asked questions

What is the current guideline value of Pearl Garden?

The current guideline value of Pearl Garden is Rs 3,410 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,410 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification of Pearl Garden?

Pearl Garden is classified as Mixed Special Type - II, which affects its guideline value and potential uses.

What are the registration fees for property in Pearl Garden?

For a property valued at Rs 34,10,000, the stamp duty would be Rs 2,38,700, and the registration fee would be Rs 68,200, totaling Rs 3,06,900. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Pearl Garden located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.