Guideline Value for SAPTHAGIRI GARDEN

Sapthagiri Garden guideline value

The current guideline value of Sapthagiri Garden in Chitravadi village is Rs 103 per sq.ft, effective from 1 July 2024. This property falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Sapthagiri Garden has changed

The guideline value for Sapthagiri Garden has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase to Rs 100 per sq.ft, and the most recent revision in 2024 set the value at Rs 103 per sq.ft.

Between the revisions, there were notable changes: from 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 reflects a rise of 3%. Overall, from 2012 to 2024, the guideline value has increased by 3%.

Guideline values in Chitravadi

In Chitravadi village, there are four streets under the Madurandakam SRO that carry a 2024 guideline value. The current value for Sapthagiri Garden is Rs 103 per sq.ft, which is above the median of Rs 102 per sq.ft for the area. The other streets in Chitravadi are as follows:

• Skathi Nagar: Rs 100 per sq.ft (2024)
• Lakshmi Narasimma Swamy Nagar: Rs 103 per sq.ft (2024)
• A.G.P. Punnia Boomi: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthagiri Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total fees to Rs 9,270. 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 Sapthagiri Garden?

The Sub Registrar Office that covers Sapthagiri Garden is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Chitravadi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or transferred.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees are reflective of the property's value as determined by the government.

Frequently asked questions

What is the current guideline value of Sapthagiri Garden?

The current guideline value of Sapthagiri Garden is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Sapthagiri Garden?

Sapthagiri Garden is classified as Residential Special Type - I under the Madurandakam SRO.

What are the stamp duty and registration fees for properties in Sapthagiri Garden?

For a property valued at Rs 1,03,000, the stamp duty is Rs 7,210 and the registration fee is Rs 2,060, totaling Rs 9,270.

Where is the Sub Registrar Office for Sapthagiri Garden located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.