Guideline Value for ALWINS GREEN PARK

Alwins Green Park guideline value

The current guideline value of Alwins Green Park is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Somangalam village, under the Sriperumpudur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Alwins Green Park has changed

The guideline value for Alwins Green Park has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was set at Rs 335 per sq.ft. This value increased to Rs 500 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023 and maintaining the same value in 2024.

It is important to note that the register has no figure for Alwins Green Park for the years 2002, 2003, 2007, and 2012. Therefore, the current guideline value of Rs 500 per sq.ft represents a significant increase from the 2017 figure, with no changes recorded in the intervening years.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Alwins Green Park's 2024 figure above this median.

• Ags Nagar: Rs 800 per sq.ft (2024)
• Amirtharaj Nagar: Rs 200 per sq.ft (2024)
• Aadhira: Rs 800 per sq.ft (2024)
• Annai Nagar: Rs 150 per sq.ft (2024)
• Annai Nagar Annex: Rs 150 per sq.ft (2024)
• Anna Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Alwins Green Park

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Alwins Green Park?

The Sub Registrar Office that covers Alwins Green Park is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Alwins Green Park?

The current guideline value of Alwins Green Park is Rs 500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from the 2023 revision to the 2024 revision, showing no change. However, it increased by 49% from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023.

What is the land classification of Alwins Green Park?

Alwins Green Park is classified as Commercial Class I Type - I. This classification can affect the types of developments and activities permitted on the property.

Where can I find the Sub Registrar Office for Alwins Green Park?

The Sub Registrar Office for Alwins Green Park is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Alwins Green Park?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft would incur a total guideline value of Rs 5,00,000, leading to a stamp duty charge of Rs 35,000.