Guideline Value for Real Value Nagar Phase 3

Real Value Nagar Phase 3 guideline value

The current guideline value of Real Value Nagar Phase 3 is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Amarampedu village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Real Value Nagar Phase 3 has changed

The guideline value for Real Value Nagar Phase 3 has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, it then dropped to Rs 234 per sq.ft in 2017, marking a decrease of 33%. From 2017 to 2023, the value increased by 50%, bringing it back to Rs 350 per sq.ft. The most recent revision in 2024 has maintained this value at Rs 350 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 250%.

Guideline values in Amarampedu

In Amarampedu, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value of Real Value Nagar Phase 3 is above this median.

• Real Value Nagar: Rs 350 per sq.ft (2024)
• Royal Town Phase 1: Rs 350 per sq.ft (2024)
• Royal Town Phase 2: Rs 350 per sq.ft (2024)
• Sarvamangala Nagar: Rs 200 per sq.ft (2024)
• School Street: Rs 350 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Real Value Nagar Phase 3

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees together to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Real Value Nagar Phase 3?

The Sub Registrar Office that covers Real Value Nagar Phase 3 is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration of property transactions in Amarampedu. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Real Value Nagar Phase 3?

The current guideline value of Real Value Nagar Phase 3 is Rs 350 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 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and has remained at Rs 350 per sq.ft since 2023.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot valued at Rs 350 per sq.ft, the total guideline value is Rs 3,50,000. The stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500.

Which Sub Registrar Office is responsible for Real Value Nagar Phase 3?

The Sriperumpudur Sub Registrar Office is responsible for Real Value Nagar Phase 3, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the guideline value determined for property transactions?

The guideline value is determined by the Registration Department and is used as a benchmark for calculating stamp duty and registration fees during property transactions. It reflects the value of the property in a specific area and is updated periodically.