Guideline Value for Dr.APJ Abdul Kalam Nagar

Dr.APJ Abdul Kalam Nagar guideline value

The current guideline value of Dr.APJ Abdul Kalam Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village, under the Sriperumpudur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Dr.APJ Abdul Kalam Nagar has changed

The guideline value of Dr.APJ Abdul Kalam Nagar has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 250 per sq.ft. The 2017 revision saw a decrease to Rs 167 per sq.ft, marking a 33% drop from the previous figure. From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft.

For the 2024 revision, the guideline value remains at Rs 250 per sq.ft, showing no change from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 350 per sq.ft. Dr.APJ Abdul Kalam Nagar's 2024 figure is below this median.

• Doctors Avenue Annexe-I: Rs 400 per sq.ft (2024)
• Doctor Avenue: Rs 250 per sq.ft (2024)
• Dharmashastha Nagar: Rs 150 per sq.ft (2024)
• Chinnasamy Nagar: Rs 200 per sq.ft (2024)
• Ganapathy Farm House Site: Rs 400 per sq.ft (2024)
• Ganapathy Farm Lands: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.APJ Abdul Kalam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 Dr.APJ Abdul Kalam Nagar?

The Sub Registrar Office that covers Dr.APJ Abdul Kalam Nagar 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 critical 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 must be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Dr.APJ Abdul Kalam Nagar?

The current guideline value of Dr.APJ Abdul Kalam Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2012, 2023, and 2024, while it decreased to Rs 167 per sq.ft in 2017. The value increased by 50% from 2017 to 2023.

What is the land classification for Dr.APJ Abdul Kalam Nagar?

The land classification for Dr.APJ Abdul Kalam Nagar is Residential Class II Type - I.

What are the stamp duty and registration fees for property in Dr.APJ Abdul Kalam Nagar?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Where is the Sub Registrar Office for Dr.APJ Abdul Kalam Nagar located?

The Sub Registrar Office for Dr.APJ Abdul Kalam Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.