Guideline Value for SRISHTI GARDEN

Srishti Garden guideline value

The current guideline value of Srishti Garden is Rs 990 per sq.ft, effective from 1 July 2024. This property is located in Padappai village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Srishti Garden has changed

The guideline value for Srishti Garden has seen several revisions over the years. In the 2012 revision, the value was Rs 900 per sq.ft, which decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, and then further rose to Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, placing Srishti Garden's 2024 figure above this median.

• Sri Solai Nagar: Rs 1,320 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 830 per sq.ft (2024)
• Sri Thanthoniyamman Nagar: Rs 830 per sq.ft (2024)
• Sri Velan Nagar: Rs 830 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,320 per sq.ft (2024)
• Sri Sai Baba Nagar Extn: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Srishti Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total charges to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Srishti Garden?

The Sub Registrar Office that covers Srishti Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Padappai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Srishti Garden?

The current guideline value of Srishti Garden is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of Srishti Garden?

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

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Padappai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 at 7%.