Guideline Value for SOUBAKIYA NAGAR

Soubakiya Nagar guideline value

The current guideline value of Soubakiya Nagar is Rs 202 per sq.ft, effective from 1 July 2024. This village is located in the Cheyyur SRO, under the Chengalpattu zone of Tamil Nadu. The land classification for this area is Residential Class I Type - I.

How the guideline value of Soubakiya Nagar has changed

The guideline value for Soubakiya Nagar has seen several revisions over the years. The earliest recorded figure is from 2017, when the guideline value was Rs 134 per sq.ft. This increased to Rs 200 per sq.ft in the 2023 revision, marking a significant rise of 49% over six years. The most recent revision in 2024 set the guideline value at Rs 202 per sq.ft, reflecting a 1% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 51%.

Guideline values in Cheyyur - A

In Cheyyur - A, there are 64 streets under the Cheyyur SRO that have a guideline value for 2024, ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 101 per sq.ft, which means Soubakiya Nagar's 2024 figure is above that median.

• Shanmuga Nagar: Rs 101 per sq.ft (2024)
• Selvavinayagar Kovil Street: Rs 100 per sq.ft (2024)
• School Street: Rs 200 per sq.ft (2024)
• Sumangali Nagar: Rs 101 per sq.ft (2024)
• Sundivakathar Street: Rs 200 per sq.ft (2024)
• R.C.VELLIMEDU 2st STREET: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Soubakiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 202 per sq.ft, the total guideline value would be Rs 2,02,000. The stamp duty at 7% would amount to Rs 14,140, while the registration fee at 2% would be Rs 4,040. Together, the total cost for stamp duty and registration fee would be Rs 18,180. 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 detailed calculations.

Which Sub Registrar Office covers Soubakiya Nagar?

The Sub Registrar Office that covers Soubakiya Nagar is located at Cheyyur Sub Registrar Office, 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value is an essential factor in the registration process when buying or selling property in Cheyyur - A. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Soubakiya Nagar?

The current guideline value of Soubakiya Nagar is Rs 202 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2017 to Rs 202 per sq.ft in 2024, marking an overall increase of 51% over this period.

What is the land classification for Soubakiya Nagar?

Soubakiya Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Soubakiya Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration in Soubakiya Nagar?

The Cheyyur Sub Registrar Office handles property registration for Soubakiya Nagar, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.