Guideline Value for Yogi Garden

Yogi Garden guideline value

The current guideline value for Yogi Garden in Pallipattu village, under the Adayar SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Yogi Garden has changed

The guideline value for Yogi Garden has seen several revisions over the years. In 2002, the value was Rs 729 per sq.ft, which increased to Rs 797 per sq.ft in 2003, marking a 9% rise. The subsequent revision in 2007 saw a significant increase to Rs 3,000 per sq.ft, reflecting a 276% change. The value then reached Rs 6,000 per sq.ft in 2012, which was a decrease of 33% from the previous revision.

From 2012, the guideline value rose to Rs 4,020 per sq.ft in 2017, a 49% increase. The most recent revision in 2023 set the value at Rs 6,000 per sq.ft, which then increased by 10% to the current value of Rs 6,600 per sq.ft in 2024.

Guideline values in Pallipattu

Pallipattu village has a range of guideline values across its 72 streets under the Adayar SRO, with figures for 2024 varying from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 9,400 per sq.ft, indicating that Yogi Garden's 2024 figure is below this median.

• Venkatarathinam Nagar Extension 2nd Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Nagar Extension 1st Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Nagar: Rs 9,400 per sq.ft (2024)
• Venkatarathinam Main Road: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 8th Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 7th Cross Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Yogi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, these fees amount to Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Yogi Garden?

The Yogi Garden area falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Pallipattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Yogi Garden?

The current guideline value for Yogi Garden is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 729 per sq.ft in 2002 to the current value of Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 805%.

What is the median guideline value in Pallipattu?

The median guideline value in Pallipattu is Rs 9,400 per sq.ft for 2024, with Yogi Garden's value being below this median.

What fees are associated with property transactions in Yogi Garden?

When buying property in Yogi Garden, buyers should expect to pay 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 Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, and oversees property registrations for Yogi Garden.