Guideline Value for Real Value Nagar Phase III

Real Value Nagar Phase III guideline value

The current guideline value of Real Value Nagar Phase III is Rs 350 per sq.ft. This area is located in Somangalam_B village under the Sriperumpudur SRO, classified as Residential Class I Type - I.

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

The guideline value for Real Value Nagar Phase III has undergone several revisions over the years. The current rate of Rs 350 per sq.ft has been consistent since the 2023 revision, which also set the rate at Rs 350 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 234 per sq.ft, marking a 50% increase from 2017 to 2023.

There are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street. Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 50%, maintaining the rate of Rs 350 per sq.ft since 2023.

Guideline values in Somangalam_B

Somangalam_B village has 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 guideline value for these streets is Rs 250 per sq.ft, placing Real Value Nagar Phase III above this median.

• Real Value Nagar: Rs 350 per sq.ft (2024)
• Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Raisa Nagar Annex: Rs 150 per sq.ft (2024)
• Raisa Nagar: Rs 250 per sq.ft (2024)
• Santhi Nagar: Rs 500 per sq.ft (2024)
• Selliamman Nagar: Rs 400 per sq.ft (2024)

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

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 cost for these fees to Rs 31,500. Please 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 information.

Which Sub Registrar Office covers Real Value Nagar Phase III?

The Sub Registrar Office covering Real Value Nagar Phase III 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 Somangalam_B

When buying or selling property in Somangalam_B, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the benchmark used by the registration department to calculate these fees, ensuring that they are based on the official value of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property transactions in the area.

Frequently asked questions

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

The current guideline value of Real Value Nagar Phase III is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since the 2023 revision. It increased from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023, reflecting a 50% rise over that period.

What are the other streets in Somangalam_B with their guideline values?

Other streets in Somangalam_B include Ramachandra Nagar and Raisa Nagar, both at Rs 350 and Rs 250 per sq.ft respectively, among others with varying rates.

What fees are applicable when registering property in Real Value Nagar Phase III?

When registering property in Real Value Nagar Phase III, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Real Value Nagar Phase III?

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