Guideline Value for SAVAITHIRI GARDEN

Savaithiri Garden guideline value

The current guideline value of Savaithiri Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Savaithiri Garden has changed

The guideline value for Savaithiri Garden has undergone several revisions over the years. The earliest recorded value was Rs 2,000 per sq.ft in 2012, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value significantly increased to Rs 3,000 per sq.ft in 2023, and further rose to the current value of Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value surged by 124%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 65%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, 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 guideline value for the village is Rs 1,700 per sq.ft, placing Savaithiri Garden's current value above this median.

• Saviour Garden: Rs 1,100 per sq.ft (2024)
• Sardarpatel Road: Rs 1,700 per sq.ft (2024)
• Sarawathi Garden: Rs 3,300 per sq.ft (2024)
• Sarathadevi Garden: Rs 1,100 per sq.ft (2024)
• Semmencherry Nukkam Palayam Street: Rs 3,300 per sq.ft (2024)
• Senthil Kumar Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Savaithiri Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Savaithiri Garden?

The Sub Registrar Office that covers Savaithiri 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 an essential factor during the registration of property transactions in Chemmancheri. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. This helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Savaithiri Garden?

The current guideline value of Savaithiri Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

What is the land classification of Savaithiri Garden?

Savaithiri Garden is classified as Residential Class I Type - II, indicating its designation for residential use.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Savaithiri Garden is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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