Guideline Value for Sri Sanjay Garden

Sri Sanjay Garden guideline value

The current guideline value of Sri Sanjay Garden, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Sanjay Garden has changed

Over the years, the guideline value of Sri Sanjay Garden has seen several revisions. The 2012 revision set the value at Rs 2,100 per sq.ft, which was later reduced to Rs 1,407 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,100 per sq.ft, followed by the current 2024 revision which has further increased it to Rs 2,310 per sq.ft.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The value then saw a 10% increase from 2023 to 2024. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, which is equal to the current guideline value of Sri Sanjay Garden.

• Sri Saraswathi Avenue: Rs 2,750 per sq.ft (2024)
• Sri Sathya Nagar: Rs 2,310 per sq.ft (2024)
• Sri Seshadri Garden Theru: Rs 1,650 per sq.ft (2024)
• Sri Sri Enclave: Rs 2,310 per sq.ft (2024)
• Sri Ram Properties: Rs 4,290 per sq.ft (2024)
• Sriram Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sanjay Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, making the total cost for these fees Rs 2,07,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sanjay Garden?

The Sri Sanjay Garden area falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Sanjay Garden?

The current guideline value of Sri Sanjay Garden is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then back to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the registration office for Sri Sanjay Garden?

The registration office for Sri Sanjay Garden is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Sanjay Garden?

Stamp duty for properties in Sri Sanjay Garden is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

What is the land classification of Sri Sanjay Garden?

Sri Sanjay Garden is classified as Residential Class II Type - I, which influences its guideline value and potential uses.