Guideline Value for Real Value Nagar

Real Value Nagar guideline value

The current guideline value of Real Value Nagar is Rs 350 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 I Type - I.

How the guideline value of Real Value Nagar has changed

The guideline value for Real Value Nagar has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 234 per sq.ft. This value increased to Rs 350 per sq.ft in both the 2023 and 2024 revisions, reflecting a 50% increase from the 2017 figure to the 2023 figure. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2023 to 2024, the guideline value remained unchanged at Rs 350 per sq.ft, indicating a 0% change. Overall, from 2017 to 2024, the guideline value has increased by 50%, moving from Rs 234 per sq.ft to the current Rs 350 per sq.ft.

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 guideline value for the village is Rs 250 per sq.ft, placing Real Value Nagar above this median value.

• Real Value Nagar Phase III: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to 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. 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 Real Value Nagar?

The Sub Registrar Office that covers Real Value 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 serves as a benchmark for property transactions in Somangalam_B. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value, as it directly influences the overall cost of property transactions in the area. This ensures that all parties are informed and prepared for the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Real Value Nagar?

The current guideline value of Real Value Nagar 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 234 per sq.ft in 2017 to Rs 350 per sq.ft in both 2023 and 2024, reflecting a 50% increase overall from 2017 to 2024.

What is the median guideline value in Somangalam_B?

The median guideline value in Somangalam_B is Rs 250 per sq.ft, with Real Value Nagar's current value being above this median.

What are the stamp duty and registration fees for property in Real Value Nagar?

For a property valued at 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. These fees are based on the higher of the guideline value or the sale price.

Which office handles property registrations for Real Value Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Real Value Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.