Guideline Value for SOWBAGHIYA NAGAR

Sowbaghiya Nagar guideline value

The current guideline value of Sowbaghiya Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Thiruporur village, under the Thiruporur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sowbaghiya Nagar has changed

The guideline value for Sowbaghiya Nagar has seen several revisions over the years. In 2012, the value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 800 per sq.ft. The latest revision in 2024 set the value at Rs 880 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 495 to Rs 4,500 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the current guideline value of Sowbaghiya Nagar.

• South Mada Street: Rs 880 per sq.ft (2024)
• Santror Street: Rs 770 per sq.ft (2024)
• Sannathi Street: Rs 880 per sq.ft (2024)
• Sannathi Santhu Street: Rs 770 per sq.ft (2024)
• Sri Subramanya Avenue: Rs 1,100 per sq.ft (2024)
• Sabapathy Pathar Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sowbaghiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sowbaghiya Nagar?

The Sub Registrar Office that covers Sowbaghiya Nagar is 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 Thiruporur

The guideline value is a crucial factor during the registration of property transactions in Thiruporur. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sowbaghiya Nagar?

The current guideline value of Sowbaghiya Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012, decreased to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally set at Rs 880 per sq.ft in 2024.

What are the registration fees for property in Sowbaghiya Nagar?

For a plot of 1,000 sq.ft at the current guideline value, the total registration fees would amount to Rs 79,200, which includes stamp duty and registration fees.

Which office handles property registrations in Sowbaghiya Nagar?

The Thiruporur Sub Registrar Office handles property registrations in Sowbaghiya Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What is the significance of the guideline value?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, reflecting the market conditions in the area.