Guideline Value for STAR GARDEN PHASE-I

Star Garden Phase-I guideline value

The current guideline value of Star Garden Phase-I is Rs 101 per sq.ft, effective from 1 July 2024. This property is located in Edamichi village under the Salavakkam SRO, classified as Residential Class II Type - I.

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

Over the years, the guideline value of Star Garden Phase-I has seen several revisions. The 2012 revision set the value at Rs 70 per sq.ft, which was then reduced to Rs 47 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 100 per sq.ft in the 2023 revision, and is now Rs 101 per sq.ft as of the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 113%. The overall change from 2012 to 2024 reflects a 44% increase in the guideline value.

Guideline values in Edamichi

In Edamichi, there are four streets under the Salavakkam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 102 per sq.ft, with a median of Rs 102 per sq.ft. The guideline value for Star Garden Phase-I is below this median.

• Vijay Raja Kurunchi: Rs 102 per sq.ft (2024)
• Nathakollai Street: Rs 100 per sq.ft (2024)
• Mano Mount City: Rs 102 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 101 per sq.ft, the guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, making the total Rs 9,090. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Star Garden Phase-I?

The Sub Registrar Office that covers Star Garden Phase-I is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating these fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Star Garden Phase-I is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 101 per sq.ft in 2024, showing an overall increase of 44% over this period.

What is the land classification of Star Garden Phase-I?

Star Garden Phase-I is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Star Garden Phase-I?

The Sub Registrar Office for Star Garden Phase-I is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is the stamp duty calculated for property in Star Garden Phase-I?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,090.