Guideline Value for TRINITY GARDEN

Trinity Garden guideline value

The current guideline value for Trinity Garden is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Trinity Garden has changed

The guideline value for Trinity Garden has undergone several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and then to Rs 4,400 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects an increase of 10%. Overall, when considering the period from 2012 to 2024, there has been an increase of 10% in the guideline value.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Trinity Garden's 2024 figure above this median.

• Trinity Park & Trinity Park Phase II: Rs 4,400 per sq.ft (2024)
• True Value Homes: Rs 6,600 per sq.ft (2024)
• Toraipakkam Colony: Rs 3,900 per sq.ft (2024)
• T.V.H. Property: Rs 3,300 per sq.ft (2024)
• Union Salai: Rs 3,300 per sq.ft (2024)
• Thiru VI Ka Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Trinity Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trinity Garden?

The Sub Registrar Office that covers Trinity Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded and legally binding.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and the guideline value serves as a benchmark for these calculations.

Frequently asked questions

What is the current guideline value for Trinity Garden?

The current guideline value for Trinity Garden is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value for the 453 streets in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Trinity Garden's current value above this median.

What are the stamp duty rates for properties in Trinity Garden?

The stamp duty for properties in Trinity Garden is charged at 7% of the guideline value or the sale price, whichever is higher. This is in addition to a registration fee of 2%.

Where can I find the Sub Registrar Office for Trinity Garden?

The Sub Registrar Office for Trinity Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.