Guideline Value for Valarmathi Garden Part-I to IV

Valarmathi Garden Part-I to IV guideline value

The current guideline value of Valarmathi Garden Part-I to IV is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Kanchivakkam village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Valarmathi Garden Part-I to IV has changed

Over the years, the guideline value of Valarmathi Garden Part-I to IV has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 50 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a substantial rise of 900%. However, in 2017, the value dropped to Rs 335 per sq.ft, a decrease of 33%. The value remained at Rs 500 per sq.ft in 2023 and continues to be the same in the 2024 revision, indicating no change from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 900%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kanchivakkam

Kanchivakkam village features 23 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 400 to Rs 600 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the guideline value of Valarmathi Garden Part-I to IV.

• Vaseegar Avenue: Rs 600 per sq.ft (2024)
• Sumangali Nagar: Rs 500 per sq.ft (2024)
• Sterling Garden-I & II: Rs 400 per sq.ft (2024)
• Sri Sai Vignesh Nagar: Rs 600 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Valarmathi Garden Part-I to IV

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valarmathi Garden Part-I to IV?

The Sub Registrar Office that covers Valarmathi Garden Part-I to IV is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kanchivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities assess the guideline value to calculate the applicable charges. Buyers should ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Valarmathi Garden Part-I to IV?

The current guideline value of Valarmathi Garden Part-I to IV is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with an increase from Rs 50 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, followed by a drop to Rs 335 per sq.ft in 2017. It remained at Rs 500 per sq.ft in 2023 and continues to be the same in 2024.

What is the land classification for Valarmathi Garden Part-I to IV?

Valarmathi Garden Part-I to IV is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Gooduvancheri Sub Registrar Office covers Valarmathi Garden Part-I to IV and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kanchivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty at 7% would be Rs 35,000.