Guideline Value for Sri devi teak garden

Sri devi teak garden guideline value

The current guideline value of Sri devi teak garden in Sokandi village is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Sri devi teak garden has changed

Over the years, the guideline value of Sri devi teak garden has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision marked a decrease to Rs 167 per sq.ft, reflecting a -33% change from the 2012 figure. The 2024 revision maintains the value at Rs 250 per sq.ft, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 50%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 250 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sokandi

In Sokandi village, there are 35 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 1,000 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for Sri devi teak garden is below this median.

• Sharma Nagar: Rs 250 per sq.ft (2024)
• SelvaPuram Part-II: Rs 300 per sq.ft (2024)
• Selvapuram Part-I: Rs 300 per sq.ft (2024)
• Selvapuram Nagar Ext: Rs 600 per sq.ft (2024)
• Selvapuram: Rs 300 per sq.ft (2024)
• Sebastian Avenue: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Sri devi teak garden

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value is Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri devi teak garden?

The Sri devi teak garden is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Sokandi. It serves as a baseline for calculating stamp duty and registration fees, which are mandatory during the property transfer process.

When a property is sold, the guideline value or the sale price, whichever is higher, is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri devi teak garden?

The current guideline value of Sri devi teak garden is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a decrease to Rs 167 per sq.ft in 2017, followed by a return to Rs 250 per sq.ft in 2023 and 2024. The 2023 to 2024 revision showed no change.

What is the land classification for Sri devi teak garden?

Sri devi teak garden is classified as Residential Special Type - III, which influences its guideline value and potential uses.

What are the stamp duty and registration fees for properties in Sri devi teak garden?

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total stamp duty and registration fees would be Rs 22,500, calculated based on the guideline value of Rs 2,50,000.

Which Sub Registrar Office covers the Sri devi teak garden?

The Sunguvarchattram Sub Registrar Office covers Sri devi teak garden, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.