Guideline Value for SRI CHAKRA GARDENS FARM LAND

Sri Chakra Gardens Farm Land guideline value

The current guideline value of Sri Chakra Gardens Farm Land is Rs 500 per sq.ft, effective from 1 July 2024. This farm land is located in Bunrutti A village under the Walajabad SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Chakra Gardens Farm Land has changed

Looking at the revisions, the guideline value for Sri Chakra Gardens Farm Land was Rs 335 per sq.ft in 2017. This figure remained unchanged at Rs 500 per sq.ft in the 2023 revision and continued to hold the same value in the 2024 revision, indicating a 49% increase from the 2017 figure overall. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value saw a significant increase of 49%. However, between the 2023 and 2024 revisions, there was no change, maintaining the value at Rs 500 per sq.ft.

Guideline values in Bunrutti A

In Bunrutti A, there are 10 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft, with a median value of Rs 425 per sq.ft. The guideline value for Sri Chakra Gardens Farm Land is above this median.

• Sri Devi Karumari Amman Nagar: Rs 450 per sq.ft (2024)
• Sri Ponni Farm Garden: Rs 500 per sq.ft (2024)
• Siddarth Avenue: Rs 400 per sq.ft (2024)
• Unnamed Layout S.No:645/2a,2b,2c,2a1: Rs 400 per sq.ft (2024)
• Un Named Layout Survey No:446/1,7,10: Rs 400 per sq.ft (2024)
• Veerachozhapuram: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Chakra Gardens Farm Land

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Chakra Gardens Farm Land?

The Sri Chakra Gardens Farm Land falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Bunrutti A. It is used to determine the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Chakra Gardens Farm Land?

The current guideline value of Sri Chakra Gardens Farm Land is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023 and remained the same in 2024, resulting in a 49% increase overall from 2017 to 2024.

What are the guideline values of other streets in Bunrutti A?

Other streets in Bunrutti A have varying guideline values, ranging from Rs 400 to Rs 1,200 per sq.ft. The median value for these streets is Rs 425 per sq.ft.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 45,000.

Which office handles the registration for Sri Chakra Gardens Farm Land?

The registration for Sri Chakra Gardens Farm Land is handled by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.