Guideline Value for SHIVA GARDEN PART - II

Shiva Garden Part - II guideline value

The current guideline value of Shiva Garden Part - II is Rs 880 per sq.ft, effective from 1 July 2024. This property is located in Manimangalam B village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Shiva Garden Part - II has changed

The guideline value for Shiva Garden Part - II has seen several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised the guideline value to Rs 880 per sq.ft, marking a significant increase of 64% from the 2017 figure. The 2023 to 2024 revision reflects a change of 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2017 to 2023 increase of 49% indicates a substantial rise in the guideline value over that period.

Guideline values in Manimangalam B

In Manimangalam B, there are 16 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 1,800 per sq.ft. The median guideline value for these streets is Rs 1,360 per sq.ft, placing the 2024 figure for Shiva Garden Part - II below that median.

• Shobha Blossoms: Rs 1,540 per sq.ft (2024)
• Sri Astalakshmi Nagar: Rs 770 per sq.ft (2024)
• Sri Astalakshmi Nagar Phase - III: Rs 770 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,320 per sq.ft (2024)
• Nandhini Garden Phase -II: Rs 960 per sq.ft (2024)
• Nandhini Garden: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Shiva Garden Part - II

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total costs for stamp duty and registration would be Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shiva Garden Part - II?

The Sub Registrar Office that covers Shiva Garden Part - II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Manimangalam B. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum sale price for the transaction. This ensures that the property is not undervalued and that the taxes levied are based on a fair assessment of the property's worth.

Frequently asked questions

What is the current guideline value of Shiva Garden Part - II?

The current guideline value of Shiva Garden Part - II is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024. This represents an overall increase of 64% over the seven-year period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Shiva Garden Part - II?

The Padappai Sub Registrar Office handles registrations for Shiva Garden Part - II, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the range of guideline values for other streets in Manimangalam B?

The guideline values for other streets in Manimangalam B range from Rs 770 to Rs 1,800 per sq.ft, with a median value of Rs 1,360 per sq.ft.