Guideline Value for SRM Garden Phase II

SRM Garden Phase II guideline value

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

How the guideline value of SRM Garden Phase II has changed

The guideline value for SRM Garden Phase II has undergone several revisions over the years. The 2017 revision set the value at Rs 410 per sq.ft. This figure increased to Rs 612 per sq.ft in the 2023 revision, marking a 49% increase. The 2024 revision has maintained the same value of Rs 612 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Nenmeli

Nenmeli village has 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 612 per sq.ft. The guideline value for SRM Garden Phase II is equal to this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 612 per sq.ft, the guideline value amounts to Rs 6,12,000. The stamp duty at 7% would be Rs 42,840, and the registration fee at 2% would be Rs 12,240, totaling Rs 55,080. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SRM Garden Phase II?

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

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

The guideline value is a crucial reference when buying or selling property in Nenmeli. It determines the minimum price at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of SRM Garden Phase II?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 410 per sq.ft in 2017 to Rs 612 per sq.ft in 2023, maintaining the same value in 2024, resulting in a 49% increase overall from 2017 to 2024.

What are the guideline values for other streets in Nenmeli?

Other streets in Nenmeli have varying guideline values, ranging from Rs 600 to Rs 1,120 per sq.ft. The median value for the village is Rs 612 per sq.ft.

What are the stamp duty and registration fees for SRM Garden Phase II?

The stamp duty for a property in SRM Garden Phase II is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 55,080.

Which office handles registrations for SRM Garden Phase II?

The Chengleput Joint I Sub Registrar Office handles registrations for SRM Garden Phase II, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.