Guideline Value for Shri Kantha Garden

Shri Kantha Garden guideline value

The current guideline value of Shri Kantha Garden in Kumili village is Rs 300 per sq.ft, effective from 1 July 2024. This property falls under the Thiruporur SRO and is classified as Mixed Type - I land.

How the guideline value of Shri Kantha Garden has changed

The guideline value for Shri Kantha Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 201 per sq.ft. However, the value rebounded to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kumili

Kumili village has 21 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 400 per sq.ft. Shri Kantha Garden's guideline value is below this median.

• Shri Mayura Avenue: Rs 800 per sq.ft (2024)
• Somas Garden Phase I, II & III: Rs 400 per sq.ft (2024)
• Sai Sarvesh Nagar: Rs 1,400 per sq.ft (2024)
• Saastha Nagar: Rs 250 per sq.ft (2024)
• Rithivik Township Phase I, II, III, IV: Rs 1,493 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Kantha Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. Please 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 Shri Kantha Garden?

The Shri Kantha Garden is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions, as it determines the amount of stamp duty and registration fees payable when buying or selling property. It serves as a benchmark for the minimum value at which a property can be registered.

When a property is sold, the buyer and seller may agree on a sale price. However, if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead. This ensures that the property is registered at an appropriate value as per the government regulations.

Frequently asked questions

What is the current guideline value of Shri Kantha Garden?

The current guideline value of Shri Kantha Garden is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in the 2023 and 2024 revisions, with a previous decrease to Rs 201 per sq.ft in 2017. Overall, it has not changed from the 2012 figure of Rs 300 per sq.ft to 2024.

What are the stamp duty rates for property in Kumili?

The stamp duty for property transactions in Kumili is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Which office handles property registrations for Shri Kantha Garden?

The Thiruporur Sub Registrar Office handles property registrations for Shri Kantha Garden, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What is the land classification for Shri Kantha Garden?

Shri Kantha Garden is classified as Mixed Type - I land, which is a designation used for various types of land use.