Guideline Value for SRI MALAR GARDEN LAYOUT

Sri Malar Garden Layout guideline value

The current guideline value of Sri Malar Garden Layout is Rs 1,700 per sq.ft, effective from 1 July 2024. This layout is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Malar Garden Layout has changed

The guideline value for Sri Malar Garden Layout has seen several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This value remained the same in the 2012 revision and then decreased to Rs 1,005 per sq.ft in the 2017 revision. However, it increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 13%. The changes between the revisions include a 49% rise from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Sri Malar Garden Layout is below this median.

• Sri Nagar: Rs 2,800 per sq.ft (2024)
• Sri Nagar New Street: Rs 2,800 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,800 per sq.ft (2024)
• Sri Hari Avenue: Rs 3,300 per sq.ft (2024)
• Sri Padmavathy Avenue: Rs 2,200 per sq.ft (2024)
• Sripuram: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Malar Garden Layout

For a property in Sri Malar Garden Layout, a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. 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 Sri Malar Garden Layout?

The Sri Malar Garden Layout falls under 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 Okkiyamthuraipakkam

The guideline value is a critical factor when buying or selling property in Okkiyamthuraipakkam. It determines the minimum price at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When registering a property, the buyer and seller must consider the guideline value for calculating stamp duty and registration fees. This ensures compliance with the legal requirements set by the registration department.

Frequently asked questions

What is the current guideline value of Sri Malar Garden Layout?

The current guideline value of Sri Malar Garden Layout is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the stamp duty for a property in Sri Malar Garden Layout?

The stamp duty for a property in Sri Malar Garden Layout is 7% of the guideline value or the sale price, whichever is higher.

Which office registers properties in Sri Malar Garden Layout?

The Neelankarai Sub Registrar Office is responsible for registering properties in Sri Malar Garden Layout.

What is the land classification of Sri Malar Garden Layout?

Sri Malar Garden Layout is classified as Residential Class III Type - I.