Guideline Value for SRI SANKARAN VETRIVEL GARDEN

Sri Sankaran Vetrivel Garden guideline value

The current guideline value of Sri Sankaran Vetrivel Garden in Puthubakkam village is Rs 248 per sq.ft, effective from 1 July 2024. This property falls under the Thiruvottiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Sankaran Vetrivel Garden has changed

The guideline value for Sri Sankaran Vetrivel Garden has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 225 per sq.ft. This was followed by a decrease to Rs 151 per sq.ft in 2017. The 2023 revision saw an increase to Rs 226 per sq.ft, and the most recent 2024 revision raised it further to Rs 248 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 50% from 2017 to 2023. However, there was a significant drop of 33% from 2012 to 2017. Overall, the guideline value has seen a 10% increase from 2012 to 2024. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthubakkam

In Puthubakkam, there are eight streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 249 per sq.ft. The median value for these streets is Rs 248 per sq.ft, which is equal to the current guideline value for Sri Sankaran Vetrivel Garden.

• Sri Padmavathy Nagar: Rs 248 per sq.ft (2024)
• Sri Krishna Nagar/Ext/Phases: Rs 248 per sq.ft (2024)
• Sri Karumaniamman Nagar: Rs 248 per sq.ft (2024)
• Outer Ring Road: Rs 249 per sq.ft (2024)
• Madhurai Meenakshi Nagar: Rs 248 per sq.ft (2024)
• Balamurugan Nagar: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sankaran Vetrivel Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value amounts to Rs 2,48,000. The stamp duty at 7% would be Rs 17,360, and the registration fee at 2% would be Rs 4,960, bringing the total fees to Rs 22,320. 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 information.

Which Sub Registrar Office covers Sri Sankaran Vetrivel Garden?

The Sub Registrar Office that covers Sri Sankaran Vetrivel Garden is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthubakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers should be aware that the duty is calculated based on the higher value between the guideline and the sale price, ensuring that the transaction is fairly assessed.

Frequently asked questions

What is the current guideline value of Sri Sankaran Vetrivel Garden?

The current guideline value of Sri Sankaran Vetrivel Garden is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023, and finally to Rs 248 per sq.ft in 2024.

What is the land classification of Sri Sankaran Vetrivel Garden?

Sri Sankaran Vetrivel Garden is classified as Residential Special Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,48,000, with a stamp duty of Rs 17,360 and a registration fee of Rs 4,960, totaling Rs 22,320.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.