Guideline Value for ROSE GARDEN

Rose Garden guideline value

The current guideline value of Rose Garden in Nanmangalam village is Rs 1,960 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Rose Garden has changed

The guideline value for Rose Garden has undergone several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then rose again to Rs 1,960 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 9% in the guideline value.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Rose Garden's 2024 figure below this median.

• Rani Nagar: Rs 1,960 per sq.ft (2024)
• Rane Nagar: Rs 1,960 per sq.ft (2024)
• Sai Saminatah Residency: Rs 2,750 per sq.ft (2024)
• Ramanujar Garden: Rs 2,310 per sq.ft (2024)
• Sakthi Nagar: Rs 1,960 per sq.ft (2024)
• Ramakrishnan Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rose Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value would be Rs 19,60,000. The stamp duty at 7% would amount to Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, bringing the total fees to Rs 1,76,400. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Rose Garden?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory payments during the registration process. Buyers should be aware of the guideline value to understand the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Rose Garden?

The current guideline value of Rose Garden is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,960 per sq.ft in 2024.

What is the median guideline value in Nanmangalam?

The median guideline value for the streets in Nanmangalam is Rs 2,750 per sq.ft as of 2024.

What are the stamp duty and registration fees for a property in Rose Garden?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 19,60,000, the total fees would be Rs 1,76,400.

Where is the Pallavaram Sub Registrar Office located?

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