Guideline Value for Sri Bhavani Amman Garden

Sri Bhavani Amman Garden guideline value

The current guideline value of Sri Bhavani Amman Garden, located in Arumanthi village under the Redhills SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Bhavani Amman Garden has changed

The guideline value for Sri Bhavani Amman Garden has seen several revisions over the years. In 2003, the value was Rs 21 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 300 per sq.ft in 2012, but saw a decrease to Rs 201 per sq.ft in 2017. Following this, the value jumped to Rs 300 per sq.ft in 2023 and has now reached Rs 330 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,471%. The register has no figure for the year 2002 for this street.

Guideline values in Arumanthi

In Arumanthi, there are 16 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,100 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value for Sri Bhavani Amman Garden is above this median.

• Sri Krishna Nagar: Rs 330 per sq.ft (2024)
• Sri Ram Nagar: Rs 165 per sq.ft (2024)
• Sri Sai Sakthi Avenue: Rs 220 per sq.ft (2024)
• Sri Sankara Bala Subramaniya 400' Highway City: Rs 220 per sq.ft (2024)
• Sri Vadivambigai Ring Road Garden: Rs 220 per sq.ft (2024)
• Sundarraj Avenue: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhavani Amman Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is charged at 7%, totaling Rs 23,100, while the registration fee at 2% amounts to Rs 6,600. Together, these fees total Rs 29,700. It is important to note that 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 Sri Bhavani Amman Garden?

The Sub Registrar Office that covers Sri Bhavani Amman 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 Arumanthi

The guideline value is a crucial factor in the registration process when buying or selling property in Arumanthi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Bhavani Amman Garden?

The current guideline value of Sri Bhavani Amman Garden is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 21 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1,471% over the years.

What is the land classification of Sri Bhavani Amman Garden?

Sri Bhavani Amman Garden falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 23,100 and the registration fee is Rs 6,600, totaling Rs 29,700.

Which office handles registrations for properties in Arumanthi?

The Redhills Sub Registrar Office is responsible for handling registrations for properties in Arumanthi, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.