Guideline Value for Sailendrakumar Garden

Sailendrakumar Garden guideline value

The current guideline value of Sailendrakumar Garden is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Sailendrakumar Garden has changed

Over the years, the guideline value for Sailendrakumar Garden has seen several revisions. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 1,700 per sq.ft in 2024, marking a change of +13%.

In the 2024 revision, the guideline value was set at Rs 1,700 per sq.ft, reflecting the current market conditions. This increase from the previous year highlights the adjustments made in the valuation process.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median of Rs 2,200 per sq.ft. Sailendrakumar Garden's 2024 figure is below this median.

• Sailaja Garden: Rs 1,700 per sq.ft (2024)
• Sai Illam: Rs 3,300 per sq.ft (2024)
• Sai Baba Garden: Rs 2,800 per sq.ft (2024)
• Sadaiyandi Street (Grama Nedunchalai 30th Cross Street): Rs 2,200 per sq.ft (2024)
• Sabthagiri Nagar: Rs 2,200 per sq.ft (2024)
• Royal Eternity: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sailendrakumar Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the 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 Sailendrakumar Garden?

The Sailendrakumar Garden falls under 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 further assistance.

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

The guideline value is a critical factor when registering property transactions in Sholinganallur - 1. It serves as the minimum value for which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this assessed value.

When buying or selling property, the guideline value helps determine the financial obligations involved in the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which can significantly affect the total cost of the property transaction.

Frequently asked questions

What is the current guideline value of Sailendrakumar Garden?

The current guideline value of Sailendrakumar Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, representing a change of +13%. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of Sailendrakumar Garden?

Sailendrakumar Garden is classified as Residential Class IV Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Sailendrakumar Garden?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000.