Guideline Value for Sakthi Garden

Sakthi Garden guideline value

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

How the guideline value of Sakthi Garden has changed

The guideline value for Sakthi Garden has seen 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 +1076%. The value then rose to Rs 250 per sq.ft in 2012, reflecting a +25% increase. However, from 2012 to 2017, the value dropped to Rs 167 per sq.ft, a decrease of -33%. After that, the 2023 revision set the value at Rs 250 per sq.ft, which then increased to Rs 275 per sq.ft in 2024, showing a +10% change.

Overall, from 2003 to 2024, the guideline value has increased by +1518%. Notably, there is no figure for Sakthi Garden in the 2002 revision.

Guideline values in Kumanoor

Kumanoor village has a range of guideline values across its 9 streets under the Redhills SRO, with figures varying from Rs 220 to Rs 1,200 per sq.ft. The median value is Rs 275 per sq.ft, making Sakthi Garden's 2024 figure equal to this median.

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

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, bringing the total to Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Garden?

The Sub Registrar Office that covers Sakthi Garden 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 in the registration process of property transactions in Kumanoor. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sakthi Garden?

The current guideline value of Sakthi Garden 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, reflecting an overall increase of +1518% over this period.

What is the stamp duty for property in Sakthi Garden?

The stamp duty for property in Sakthi Garden is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 2,75,000, the stamp duty would be Rs 19,250.

Which Sub Registrar Office covers Sakthi Garden?

The Redhills Sub Registrar Office covers Sakthi Garden, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Kumanoor with guideline values?

Other streets in Kumanoor include Sakthi Garden Annex, Sakthi Garden North, Sakthi Garden West, Sree Ram Nagar, Sun Avenue, and Don Garden, with guideline values ranging from Rs 220 to Rs 1,200 per sq.ft.