Guideline Value for SOBHA BLOSSOM

Sobha Blossom guideline value

The current guideline value of Sobha Blossom in Erumaiyur village, under the Padappai SRO, is Rs 4,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Sobha Blossom has changed

The guideline value for Sobha Blossom has seen several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 2,618 per sq.ft. This figure increased to Rs 3,908 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 saw another increase to Rs 4,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Erumaiyur

In Erumaiyur, there are 21 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 940 per sq.ft, and Sobha Blossom's 2024 figure is above this median.

• Sri Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Varadhapuri Nagar: Rs 940 per sq.ft (2024)
• Sastha Garden: Rs 440 per sq.ft (2024)
• Tambaram - Pazhanthandalam Road: Rs 550 per sq.ft (2024)
• Tambaram Somangalam Road (Royal Enclave): Rs 2,200 per sq.ft (2024)
• Royal Enclave: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sobha Blossom

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. It is important to 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 details.

Which Sub Registrar Office covers Sobha Blossom?

The Sobha Blossom property falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erumaiyur. It is used to determine the stamp duty and registration fees that are applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sobha Blossom?

The current guideline value of Sobha Blossom is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,618 per sq.ft in 2017 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 64% during this period.

What is the land classification for Sobha Blossom?

Sobha Blossom is classified as Residential Special Type - II under the land classification guidelines.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Erumaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 at a rate of 7%.