Guideline Value for SOWBHAGYAM NAGAR

Sowbhagyam Nagar guideline value

The current guideline value of Sowbhagyam Nagar is Rs 879 per sq.ft, effective from 1 July 2024. This area is located in Periyakuppam village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Special Type - IV.

How the guideline value of Sowbhagyam Nagar has changed

Since the 2012 revision, the guideline value for Sowbhagyam Nagar has seen several changes. In 2012, the value was Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then rose to Rs 879 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for Sowbhagyam Nagar in the years 2002, 2003, and 2007.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with the median value being Rs 1,100 per sq.ft. The guideline value of Sowbhagyam Nagar is below this median.

• Sozhan Street: Rs 1,100 per sq.ft (2024)
• Sree Thirumalai Nagar: Rs 879 per sq.ft (2024)
• Skp - Nagar: Rs 879 per sq.ft (2024)
• Sivasubramaniyam Street: Rs 550 per sq.ft (2024)
• Sir.C.V.Raman Street: Rs 1,100 per sq.ft (2024)
• Siddi Vinayagar Kovil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sowbhagyam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 879 per sq.ft, the guideline value amounts to Rs 8,79,000. The stamp duty at 7% would be Rs 61,530, and the registration fee at 2% would be Rs 17,580, totaling Rs 79,110. 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 Sowbhagyam Nagar?

Sowbhagyam Nagar is covered by the Tiruvallur Joint 1 Sub Registrar Office located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Periyakuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sowbhagyam Nagar?

The current guideline value of Sowbhagyam Nagar is Rs 879 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 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 879 per sq.ft in 2024.

What is the land classification for Sowbhagyam Nagar?

The land classification for Sowbhagyam Nagar is Residential Special Type - IV.

What are the stamp duty rates applicable in Sowbhagyam Nagar?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value or sale price.

Which office handles property registrations for Sowbhagyam Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations for Sowbhagyam Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.