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_B village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Dr.APJ Abdul Kalam Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 167 per sq.ft, marking a 50% increase from 2017 to 2023.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the current 2024 revision, there has been a 50% increase in the guideline value.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value among these streets is Rs 250 per sq.ft, which is equal to the guideline value of Dr.APJ Abdul Kalam Nagar.

• 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 guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total fees together Rs 22,500. It is important to note that 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 details.

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_B

The guideline value is a critical factor during the registration of property transactions in Somangalam_B. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

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 from 2023 to 2024, and increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023, marking a 50% increase overall from 2017 to 2024.

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

Dr.APJ Abdul Kalam Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dr.APJ Abdul Kalam Nagar?

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