Guideline Value for PREMIER GARDEN PHASE -I

Premier Garden Phase -I guideline value

The current guideline value of Premier Garden Phase -I is Rs 2,420 per sq.ft. This property is located in Varadarajapuram village, under the Padappai SRO, with a land classification of Mixed Special Type - III.

How the guideline value of Premier Garden Phase -I has changed

The guideline value for Premier Garden Phase -I has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, which is an increase of 10% from the 2023 revision, where the value was Rs 2,200 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier years mentioned. Thus, the guideline value has increased from Rs 2,200 in 2023 to Rs 2,420 in 2024, reflecting the latest adjustments made by the Registration Department.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, making the 2024 guideline value of Premier Garden Phase -I above this median.

• Premier Garden Phase -II: Rs 2,420 per sq.ft (2024)
• Preethi Avenue: Rs 1,650 per sq.ft (2024)
• Prithiv Avenue: Rs 1,980 per sq.ft (2024)
• Priyanga Nagar: Rs 1,650 per sq.ft (2024)
• Purushothaman Nagar: Rs 1,320 per sq.ft (2024)
• Purushothaman Nagar Extn: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Premier Garden Phase -I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees together to Rs 2,17,800. It is important to note that 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 Premier Garden Phase -I?

The Sub Registrar Office that covers Premier Garden Phase -I is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are based on the official valuation set by the Registration Department.

When buying or selling property, it is essential to consider the guideline value as it influences the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for calculating duties and fees.

Frequently asked questions

What is the current guideline value of Premier Garden Phase -I?

The current guideline value of Premier Garden Phase -I is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,200 per sq.ft in 2023 to Rs 2,420 per sq.ft in 2024, reflecting a 10% rise.

What is the land classification for Premier Garden Phase -I?

The land classification for Premier Garden Phase -I is Mixed Special Type - III.

Where can I find the Sub Registrar Office for Premier Garden Phase -I?

The Padappai Sub Registrar Office covers Premier Garden Phase -I, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Premier Garden Phase -I?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 2,17,800.