Guideline Value for S.K.M. GARDEN

S.K.M. Garden guideline value

The current guideline value of S.K.M. Garden in Kodipallam village is Rs 248 per sq.ft, effective from 1 July 2024. This area falls under the Thiruvottiyur SRO and is classified as Residential Special Type - I.

How the guideline value of S.K.M. Garden has changed

The guideline value for S.K.M. Garden has seen several revisions over the years. The 2012 revision set the value at Rs 225 per sq.ft, which then dropped to Rs 151 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value increased significantly by 50% to Rs 226 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 248 per sq.ft, reflecting an increase of 10% from the previous year.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kodipallam

In Kodipallam, there are 11 streets under the Thiruvottiyur SRO that carry the 2024 guideline value of Rs 248 per sq.ft. The guideline value of S.K.M. Garden is equal to the median value for these streets.

• Sri Bhavani Amman Garden: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Nagar: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Nagar Ext: Rs 248 per sq.ft (2024)
• Sri Vadivambigai Garden: Rs 248 per sq.ft (2024)
• Sri Vadivambigai Ring Road Garden: Rs 248 per sq.ft (2024)
• Vadivambgai Sundari Garden: Rs 248 per sq.ft (2024)

Stamp duty and registration fee for property in S.K.M. Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value would be Rs 2,48,000. The stamp duty at 7% would amount to Rs 17,360, and the registration fee at 2% would be Rs 4,960, bringing the total cost for these fees to Rs 22,320. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.K.M. Garden?

The S.K.M. Garden area is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

When buying or selling property in Kodipallam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark to calculate these costs, ensuring that they are based on the officially recognized value of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Ensuring that the sale price is in line with the guideline value can help avoid complications during registration.

Frequently asked questions

What is the current guideline value of S.K.M. Garden?

The current guideline value of S.K.M. Garden is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then to Rs 226 per sq.ft in 2023, and finally to Rs 248 per sq.ft in 2024.

What is the land classification for S.K.M. Garden?

S.K.M. Garden is classified as Residential Special Type - I.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in S.K.M. Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 2,48,000, leading to a stamp duty of Rs 17,360 at 7%.