Guideline Value for S.P.S. Nagar

S.P.S. Nagar guideline value

The current guideline value of S.P.S. Nagar, located in Perungalathur village under the Padappai SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of S.P.S. Nagar has changed

Over the years, the guideline value of S.P.S. Nagar has seen significant changes. The 2007 revision set the value at Rs 200 per sq.ft, which rose dramatically to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The following revision in 2023 saw the value rise to Rs 1,800 per sq.ft, and the latest revision in 2024 increased it further to Rs 1,980 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall increase from the 2007 revision to the 2024 revision is 890%, indicating a substantial growth in the guideline value over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of S.P.S. Nagar is below this median.

• Spr Kamakshi Avenue: Rs 3,960 per sq.ft (2024)
• Sorkkam Nagar: Rs 2,640 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,640 per sq.ft (2024)
• Sri Balaji Nagar Extension: Rs 2,640 per sq.ft (2024)
• SRI CHAKKARA AVENUE 4th STREET: Rs 2,970 per sq.ft (2024)
• Siva Shanmugam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in S.P.S. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. The total cost for these fees would be Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.P.S. Nagar?

The Sub Registrar Office that covers S.P.S. Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies in the registration process. This ensures that both parties are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of S.P.S. Nagar?

The current guideline value of S.P.S. Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 890% over the years.

What are the stamp duty and registration fees for property in S.P.S. Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for S.P.S. Nagar?

The Padappai Sub Registrar Office handles registrations for S.P.S. Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for S.P.S. Nagar?

S.P.S. Nagar falls under the Residential Class III Type - I land classification, indicating its designated use for residential purposes.