Guideline Value for Sakthi Garden West

Sakthi Garden West guideline value

The current guideline value of Sakthi Garden West is Rs 275 per sq.ft, effective from 1 July 2024. This area is located in Kumanoor village, under the jurisdiction of the Redhills Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Sakthi Garden West has changed

The guideline value for Sakthi Garden West has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 17 per sq.ft. This figure increased significantly to Rs 200 per sq.ft in 2007, marking a change of +1,076%. In 2012, the value remained the same at Rs 250 per sq.ft, reflecting a decrease of -33% from the previous revision. The 2017 revision saw another increase to Rs 167 per sq.ft, which was a +50% change from 2012. The 2023 revision set the value at Rs 250 per sq.ft, and the most recent 2024 revision increased it to Rs 275 per sq.ft, a change of +10%.

It is important to note that there is no figure available for the year 2002 for this street. Overall, from the 2003 revision to the 2024 revision, 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. The median value for these streets is Rs 275 per sq.ft, which is equal to the guideline value of Sakthi Garden West.

• Sakthi Garden North: Rs 275 per sq.ft (2024)
• Sakthi Garden Annex: 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 West

For a 1,000 sq.ft plot at the current rate of Rs 275 per sq.ft, the guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, making the total Rs 24,750. 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 precise calculations.

Which Sub Registrar Office covers Sakthi Garden West?

The Sub Registrar Office that covers Sakthi Garden West 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 details.

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

The guideline value plays a crucial role in property transactions in Kumanoor. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sakthi Garden West?

The current guideline value of Sakthi Garden West 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, marking an overall increase of +1,518%.

What is the registration office for Sakthi Garden West?

The registration office for Sakthi Garden West is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

For a 1,000 sq.ft plot valued at Rs 2,75,000, the stamp duty would be Rs 19,250, and the registration fee would be Rs 5,500, totaling Rs 24,750.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees when buying or selling property. It ensures that properties are registered at a minimum value, ensuring compliance with legal requirements.