Guideline Value for PRIM LIBERTY GARDEN

Prim Liberty Garden guideline value

The current guideline value of Prim Liberty Garden is Rs 1,000 per sq.ft. It is located in Chemmancheri village under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Prim Liberty Garden has changed

In the 2012 revision, the guideline value was set at Rs 750 per sq.ft. This increased to Rs 502 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, representing an increase of 99%. The most recent revision in 2024 maintains this value at Rs 1,000 per sq.ft, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Chemmancheri

In Chemmancheri village, 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. The median value for these streets is Rs 1,700 per sq.ft, placing Prim Liberty Garden's 2024 figure below that median.

• Pridivraj Garden: Rs 1,000 per sq.ft (2024)
• Priyadharasini Garden: Rs 1,000 per sq.ft (2024)
• Prasanna Garden: Rs 3,900 per sq.ft (2024)
• Radhakrishnan Garden: Rs 1,700 per sq.ft (2024)
• Pondichery Pattai Road: Rs 3,300 per sq.ft (2024)
• Pondichery Pattai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Prim Liberty Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prim Liberty Garden?

The Sub Registrar Office that covers Prim Liberty Garden 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 critical factor in property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When purchasing property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Prim Liberty Garden?

The current guideline value of Prim Liberty Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then rising to Rs 1,000 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification of Prim Liberty Garden?

Prim Liberty Garden is classified as Residential Class V Type - II, indicating its designation for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated for properties in Chemmancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.