Guideline Value for Sri Ramakrishna Garden Annex

Sri Ramakrishna Garden Annex guideline value

The current guideline value of Sri Ramakrishna Garden Annex is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Ramakrishna Garden Annex has changed

The guideline value for Sri Ramakrishna Garden Annex has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 33 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, followed by a rise to Rs 800 per sq.ft in 2012. However, it then saw a decrease to Rs 536 per sq.ft in 2017. The value rose again to Rs 800 per sq.ft in 2023 and has now reached Rs 880 per sq.ft in the 2024 revision.

Notably, the changes between revisions include a remarkable increase of 1718% from 2003 to 2007, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. The register has no figure for this street for the year 2002.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 660 per sq.ft, placing the Sri Ramakrishna Garden Annex's 2024 figure above this median.

• Sri Ramakirshna Garden: Rs 440 per sq.ft (2024)
• Sri Ram Nagar: Rs 440 per sq.ft (2024)
• Sripal Nagar: Rs 440 per sq.ft (2024)
• Sri Paleeswarar Nagar: Rs 440 per sq.ft (2024)
• Sri Ram Nagar Annex: Rs 440 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramakrishna Garden Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these charges to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ramakrishna Garden Annex?

The Sri Ramakrishna Garden Annex falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Grandlyon. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the local authorities.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial aspects of the transaction. Accurate knowledge of the guideline value can help in budgeting for the additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Sri Ramakrishna Garden Annex?

The current guideline value of Sri Ramakrishna Garden Annex is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 33 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Sri Ramakrishna Garden Annex?

The registration office for Sri Ramakrishna Garden Annex 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?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 8,80,000, the total charges would amount to Rs 79,200.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand this value to budget for the associated costs.