Guideline Value for SPARKLING GARDEN 1ST STREET

Sparkling Garden 1st Street guideline value

The current guideline value of Sparkling Garden 1st Street is Rs 4,400 per sq.ft. This street is located in the village of Sholinganallur - 1, under the Neelankarai SRO, and is classified as Residential Special Type - V.

How the guideline value of Sparkling Garden 1st Street has changed

The guideline value for Sparkling Garden 1st Street has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 2,680 per sq.ft. This increased to Rs 4,400 per sq.ft in the 2024 revision, marking a change of +64% from the previous figure.

There are no figures available for this street in the revisions of 2023, 2012, 2007, 2003, and 2002.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values for 754 streets under the Neelankarai SRO range from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Sparkling Garden 1st Street's 2024 figure is above this median.

• Sparkling Garden 2nd Street: Rs 4,400 per sq.ft (2024)
• Sparkling Sons Avenue: Rs 4,400 per sq.ft (2024)
• Spring Field: Rs 4,400 per sq.ft (2024)
• Spring Garden 1st Street: Rs 4,400 per sq.ft (2024)
• Spring Garden 2nd Street: Rs 4,400 per sq.ft (2024)
• S.P.Velu Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sparkling Garden 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sparkling Garden 1st Street?

The Sub Registrar Office that covers Sparkling Garden 1st Street 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 Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property registration.

When buying or selling property, the guideline value is used to determine the applicable fees, ensuring that both parties adhere to the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sparkling Garden 1st Street?

The current guideline value of Sparkling Garden 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value of Sparkling Garden 1st Street has increased from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft, which is a change of +64%.

What is the land classification for Sparkling Garden 1st Street?

Sparkling Garden 1st Street is classified as Residential Special Type - V under the Neelankarai SRO.

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.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,96,000.