Guideline Value for SRM Garden Phase - I

SRM Garden Phase - I guideline value

The current guideline value of SRM Garden Phase - I is Rs 612 per sq.ft, effective from 1 July 2024. This property is located in Nenmeli village under the Chengleput Joint I SRO, classified as Residential Special Type - II.

How the guideline value of SRM Garden Phase - I has changed

The guideline value for SRM Garden Phase - I has seen significant changes over the years. The last recorded revision prior to 2024 was in 2017, where the guideline value was Rs 410 per sq.ft. This marks an increase of 49% to the current 2024 figure of Rs 612 per sq.ft. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value increased from Rs 410 per sq.ft in 2017 to Rs 612 per sq.ft in 2024. The absence of figures for earlier revisions indicates that the most recent changes reflect the current market conditions for this property.

Guideline values in Nenmeli

Nenmeli village has a range of guideline values across its 53 streets under the Chengleput Joint I SRO. The 2024 figures range from Rs 400 to Rs 2,500 per sq.ft, with the median being Rs 612 per sq.ft. The guideline value for SRM Garden Phase - I matches this median value.

• Srm City: Rs 600 per sq.ft (2024)
• Srm Avenue Phase-II: Rs 1,120 per sq.ft (2024)
• SRM Garden Phase II: Rs 612 per sq.ft (2024)
• Srm Avenue Phase-I: Rs 1,120 per sq.ft (2024)
• S.S.Garden Phase-I: Rs 1,045 per sq.ft (2024)
• Teachers Colony: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in SRM Garden Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 612 per sq.ft, the total guideline value would be Rs 6,12,000. The stamp duty at 7% would amount to Rs 42,840, while the registration fee at 2% would be Rs 12,240. Together, the total cost for stamp duty and registration would be Rs 55,080. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SRM Garden Phase - I?

The Sub Registrar Office that covers SRM Garden Phase - I is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO online.

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

The guideline value plays a crucial role in the property registration process in Nenmeli. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately.

It is important to note that the guideline value is updated periodically, reflecting changes in the real estate market. Buyers and sellers should always check the latest guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of SRM Garden Phase - I?

The current guideline value of SRM Garden Phase - I is Rs 612 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 410 per sq.ft to Rs 612 per sq.ft, which is a 49% increase.

What is the land classification for SRM Garden Phase - I?

SRM Garden Phase - I is classified as Residential Special Type - II, indicating its designation for residential use within the area.

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for SRM Garden Phase - I.

How is stamp duty calculated for properties in Nenmeli?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,12,000, the stamp duty at 7% would be Rs 42,840.