Guideline Value for YUME GARDEN PHASE-1

Yume Garden Phase-1 guideline value

The current guideline value of Yume Garden Phase-1 is Rs 103 per sq.ft, effective from 1 July 2024. This property is located in Nelli village, under the Salavakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Yume Garden Phase-1 has changed

The guideline value for Yume Garden Phase-1 has undergone several revisions over the years. In 2012, the guideline value was Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in 2017. The value saw a significant increase to Rs 100 per sq.ft in 2023, followed by a further increase to Rs 103 per sq.ft in 2024, marking a 3% rise from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. Overall, the change from 2012 to 2024 shows a modest increase of 3% in the guideline value.

Guideline values in Nelli

In Nelli village, there are 25 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 103 per sq.ft, with the median being Rs 103 per sq.ft. Yume Garden Phase-1's 2024 guideline value matches this median.

• Thirumalai Nagar: Rs 103 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 103 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 103 per sq.ft (2024)
• Sri Bhuvaneshwari Amman Nagar: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-7: Rs 103 per sq.ft (2024)
• Sai Narasimma Garden Phase-6: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Yume Garden Phase-1

For a 1,000 sq.ft plot at the current rate of Rs 103 per sq.ft, the guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, making the total Rs 9,270. It is important to note that the 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 Yume Garden Phase-1?

The Sub Registrar Office that covers Yume Garden Phase-1 is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nelli. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value acts as a reference point for the government to assess the transaction's legitimacy. This helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value for Yume Garden Phase-1?

The current guideline value for Yume Garden Phase-1 is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 103 per sq.ft in 2024.

What is the land classification for Yume Garden Phase-1?

Yume Garden Phase-1 is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Yume Garden Phase-1?

The Salavakkam Sub Registrar Office covers Yume Garden Phase-1, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Nelli?

Stamp duty for properties in Nelli is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 1,03,000, the stamp duty would be 7% of this amount.