Guideline Value for VIMALA GARDEN

Vimala Garden guideline value

The current guideline value of Vimala Garden is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vimala Garden has changed

The guideline value for Vimala Garden has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the Rs 2,345 per sq.ft in 2017. The value remained at Rs 3,500 per sq.ft in 2012 until the next revision in 2017, which increased it to Rs 2,345 per sq.ft. Following this, the 2023 revision raised the value to Rs 3,500 per sq.ft, and the most recent 2024 revision has increased it further to Rs 3,900 per sq.ft, marking an 11% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. There are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vimala Garden's 2024 figure above this median.

• Vinayakar Koil Street (Pillaiyar Koil Street): Rs 2,800 per sq.ft (2024)
• Vivekanandar Street: Rs 2,800 per sq.ft (2024)
• V.K.Salai Cross: Rs 1,100 per sq.ft (2024)
• V.G.P.Lay Out Part I & II & III: Rs 5,000 per sq.ft (2024)
• V.G.P.Golden Beach: Rs 5,000 per sq.ft (2024)
• V.O.C.Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vimala Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost to Rs 3,51,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vimala Garden?

The Sub Registrar Office that covers Vimala 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 details.

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

The guideline value is an important factor when buying or selling property in Enjambakkam. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees during the registration process.

When a property is sold, the transaction must be registered at the Sub Registrar Office, where the guideline value is used to ensure that the appropriate taxes are paid. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Vimala Garden?

The current guideline value of Vimala Garden is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, marking an 11% increase. It was Rs 2,345 per sq.ft in 2017, and Rs 3,500 per sq.ft in 2012, showing a significant change over the years.

What is the land classification for Vimala Garden?

Vimala Garden is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find other guideline values in Enjambakkam?

Other streets in Enjambakkam have varying guideline values, ranging from Rs 1,100 to Rs 7,200 per sq.ft. You can find specific values for other streets in the area.

How is stamp duty calculated for property in Vimala Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.