Guideline Value for SAVIOUR GARDEN

Saviour Garden guideline value

The current guideline value of Saviour Garden in Chemmancheri village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class IV Type - II.

How the guideline value of Saviour Garden has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Saviour Garden's 2024 figure below that median.

• Savaithiri Garden: Rs 3,300 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 Saviour Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. 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 Saviour Garden?

The Saviour Garden area is covered by 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 when registering property transactions in Chemmancheri. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Saviour Garden?

The current guideline value of Saviour Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then up to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Saviour Garden?

Saviour Garden is classified as Residential Class IV Type - II, which indicates its suitability for residential development.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000.