Guideline Value for Sakthi Garden Annex

Sakthi Garden Annex guideline value

The current guideline value of Sakthi Garden Annex, located in Kumanoor village under the Redhills SRO, is Rs 275 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Sakthi Garden Annex has changed

The guideline value for Sakthi Garden Annex has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 17 per sq.ft. It increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 1,076%. In 2012, the value was revised to Rs 250 per sq.ft, which was a decrease of 33%. The next revision in 2017 saw an increase to Rs 167 per sq.ft, followed by a substantial rise to Rs 250 per sq.ft in 2023, representing a 50% increase. The latest revision in 2024 set the guideline value at Rs 275 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1,518%.

Guideline values in Kumanoor

Kumanoor village has nine streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,200 per sq.ft, with the median value being Rs 275 per sq.ft. The guideline value for Sakthi Garden Annex is equal to this median.

• Sakthi Garden North: Rs 275 per sq.ft (2024)
• Sakthi Garden West: Rs 275 per sq.ft (2024)
• Sakthi Garden: Rs 275 per sq.ft (2024)
• Sree Ram Nagar: Rs 385 per sq.ft (2024)
• Sun Avenue: Rs 220 per sq.ft (2024)
• Don Garden: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Garden Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, while the registration fee at 2% would be Rs 5,500. Together, the total cost for these fees would be Rs 24,750. 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 more details.

Which Sub Registrar Office covers Sakthi Garden Annex?

The Sub Registrar Office covering Sakthi Garden Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Kumanoor. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction adheres to the legal requirements set by the state.

When a property is sold, the guideline value is referenced to calculate the necessary fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sakthi Garden Annex?

The current guideline value of Sakthi Garden Annex is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 17 per sq.ft in 2003 to Rs 275 per sq.ft in 2024, showing an overall increase of 1,518% over the years.

What are the stamp duty and registration fees for property in Sakthi Garden Annex?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 19,250 and the registration fee would be Rs 5,500, totaling Rs 24,750.

Which office handles property registrations for Sakthi Garden Annex?

The Redhills Sub Registrar Office handles property registrations for Sakthi Garden Annex, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Sakthi Garden Annex?

Sakthi Garden Annex falls under the Residential Class II Type - I land classification, which is relevant for determining the guideline value and other property-related regulations.