Guideline Value for Sapthagiri Garden

Sapthagiri Garden guideline value

The current guideline value of Sapthagiri Garden is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Kayirambedu village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Sapthagiri Garden has changed

The guideline value of Sapthagiri Garden has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 210 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2012 revision, marking a substantial rise of 233%. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft, a drop of 33%. The 2023 revision maintained the value at Rs 700 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, the guideline value saw a significant increase of 49%, bringing it back to Rs 700 per sq.ft. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 233% in the guideline value.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which aligns with the current guideline value of Sapthagiri Garden.

• Santhosh Nagar: Rs 700 per sq.ft (2024)
• Santhi Nagar: Rs 900 per sq.ft (2024)
• Sanjay Nagar: Rs 700 per sq.ft (2024)
• Sakthi Avenue: Rs 1,500 per sq.ft (2024)
• R.R Avenue: Rs 1,500 per sq.ft (2024)
• Rishi Gardan: Rs 801 per sq.ft (2024)

Stamp duty and registration fee for property in Sapthagiri Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000. Together, the total cost for stamp duty and registration would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sapthagiri Garden?

The Sub Registrar Office that covers Sapthagiri Garden is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kayirambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions reflect a fair value for the property.

When a property is sold, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the stamp duty will still be based on the guideline value.

Frequently asked questions

What is the current guideline value of Sapthagiri Garden?

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

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 700 per sq.ft in both 2023 and 2024. The value was Rs 469 per sq.ft in 2017, and Rs 210 per sq.ft in 2007, showing a significant increase over the years.

What is the land classification of Sapthagiri Garden?

Sapthagiri Garden is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 63,000 in fees.

Where is the Sub Registrar Office for Sapthagiri Garden located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.