Guideline Value for Sterling Garden-I & II

Sterling Garden-I & II guideline value

The current guideline value of Sterling Garden-I & II is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Kanchivakkam village under the Gooduvancheri Sub Registrar Office (SRO) and falls under the Residential Class II Type - I land classification.

How the guideline value of Sterling Garden-I & II has changed

The guideline value for Sterling Garden-I & II has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 50 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017. The value remained at Rs 400 per sq.ft in both 2023 and 2024, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%, and from 2007 to 2012, the value surged by 700%. Overall, from 2007 to 2024, the guideline value has increased by 700%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft. The median value is Rs 500 per sq.ft, placing Sterling Garden-I & II below this median.

• Sumangali Nagar: Rs 500 per sq.ft (2024)
• Sri Sai Vignesh Nagar: Rs 600 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Valarmathi Garden Part-I to IV: Rs 500 per sq.ft (2024)
• Vaseegar Avenue: Rs 600 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sterling Garden-I & II

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total charges Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sterling Garden-I & II?

The Sterling Garden-I & II properties fall under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kanchivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are aligned with the current market standards.

When buying or selling property, the guideline value helps in determining the legal value of the property, which is essential for both the buyer and the seller. This value must be considered to ensure compliance with local regulations and to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Sterling Garden-I & II?

The current guideline value of Sterling Garden-I & II is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and remained at Rs 400 per sq.ft in 2023 and 2024.

What are the guideline values for other streets in Kanchivakkam?

Other streets in Kanchivakkam have guideline values ranging from Rs 400 to Rs 600 per sq.ft, with the median being Rs 500 per sq.ft.

What fees are associated with buying property in Sterling Garden-I & II?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.