Guideline Value for SOMAS GARDEN PHASE I, II & III

Somas Garden Phase I, II & III guideline value

The current guideline value of Somas Garden Phase I, II & III is Rs 400 per sq.ft. This property is located in Kumili village and falls under the Thiruporur SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Somas Garden Phase I, II & III has changed

Over the years, the guideline value of Somas Garden Phase I, II & III has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was Rs 268 per sq.ft. The 2023 revision again listed the value at Rs 400 per sq.ft, and the current 2024 revision has also maintained this figure at Rs 400 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been no change, with the value remaining at Rs 400 per sq.ft throughout.

Guideline values in Kumili

Kumili village has 21 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the guideline value of Somas Garden Phase I, II & III.

• Shri Mayura Avenue: Rs 800 per sq.ft (2024)
• Shri Kantha Garden: Rs 300 per sq.ft (2024)
• Sai Sarvesh Nagar: Rs 1,400 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 500 per sq.ft (2024)
• Saastha Nagar: Rs 250 per sq.ft (2024)
• Rithivik Township Phase I, II, III, IV: Rs 1,493 per sq.ft (2024)

Stamp duty and registration fee for property in Somas Garden Phase I, II & III

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value is Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, while the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. 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 Somas Garden Phase I, II & III?

The Somas Garden Phase I, II & III is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kumili. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

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

Frequently asked questions

What is the current guideline value of Somas Garden Phase I, II & III?

The current guideline value of Somas Garden Phase I, II & III is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a decrease to Rs 268 per sq.ft in 2017, followed by an increase back to Rs 400 per sq.ft in 2023.

Which Sub Registrar Office covers Somas Garden Phase I, II & III?

The Thiruporur Sub Registrar Office covers Somas Garden Phase I, II & III, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What is the stamp duty for property in Somas Garden Phase I, II & III?

The stamp duty for property in Somas Garden Phase I, II & III is 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 28,000.

Where can I find the guideline values for other streets in Kumili?

Guideline values for other streets in Kumili can be found in the registration department's guideline value register, which lists values for various streets under the Thiruporur SRO.