Guideline Value for SOUNDARYA GARDEN

Soundarya Garden guideline value

The current guideline value of Soundarya Garden is Rs 1,950 per sq.ft, effective from 1 July 2024. This area is located in Ottiyampakkam village under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Soundarya Garden has changed

The guideline value for Soundarya Garden has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which set the value at Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision. However, the value increased significantly in the 2023 revision to Rs 1,800 per sq.ft, and then rose again to Rs 1,950 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The change from 2023 to 2024 reflects an 8% rise. Overall, comparing the 2012 revision to the current 2024 figure, there has been an 8% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, which is equal to the current guideline value of Soundarya Garden.

• Sri Krishna Nagar: Rs 1,950 per sq.ft (2024)
• Sathiya Gardens: Rs 4,300 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Annexe: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Phase-II: Rs 3,200 per sq.ft (2024)
• Sri Sai Nagar Phase-III: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Soundarya Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, making the total cost for these fees Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Soundarya Garden?

The Sub Registrar Office that covers Soundarya Garden is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ottiyampakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value helps in assessing the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of Soundarya Garden?

The current guideline value of Soundarya Garden is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What is the land classification of Soundarya Garden?

Soundarya Garden is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Soundarya Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,50,000 would incur a stamp duty of Rs 1,36,500 at 7%.