Guideline Value for SYAMALA GARDEN

Syamala Garden guideline value

The current guideline value of Syamala Garden is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Special Type - V.

How the guideline value of Syamala Garden has changed

The guideline value for Syamala Garden has seen significant changes over the years. In the 2017 revision, the value was Rs 2,680 per sq.ft. This increased to Rs 4,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for this area is Rs 2,200 per sq.ft, placing Syamala Garden's 2024 figure above this median.

• S.V.Sankar Salai (Near Canal): Rs 1,700 per sq.ft (2024)
• S.V.NATARJA NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)
• S.V.Natarajan Nagar: Rs 3,900 per sq.ft (2024)
• Tamil Nadu Housing Board: Rs 3,900 per sq.ft (2024)
• S.V. Ekambaram Street: Rs 2,800 per sq.ft (2024)
• Tamil Nadu Housing Board Prathana Salai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Syamala Garden

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Syamala Garden?

The Sub Registrar Office that covers Syamala Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are conducted at a fair price as per government regulations.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Syamala Garden?

The current guideline value of Syamala Garden is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for a property in Syamala Garden?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000, which includes Rs 3,08,000 for stamp duty and Rs 88,000 for registration.

Which Sub Registrar Office covers Syamala Garden?

The Neelankarai Sub Registrar Office covers Syamala Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Syamala Garden?

Syamala Garden is classified as Residential Special Type - V under the Neelankarai SRO.