Guideline Value for SPRING FIELDS

Spring Fields guideline value

The current guideline value of Spring Fields, located in Uthukadu-B village, is Rs 300 per sq.ft. This value is set by the Walajabad SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Spring Fields has changed

The guideline value for Spring Fields has remained consistent at Rs 300 per sq.ft since the 2023 revision, which also recorded the same figure. Prior to that, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, from the 2023 revision to the 2024 revision, there has been no change in the guideline value, maintaining a steady rate of Rs 300 per sq.ft throughout this period.

Guideline values in Uthukadu-B

In Uthukadu-B, there are 33 streets under the Walajabad SRO that have a 2024 guideline value ranging from Rs 200 to Rs 1,500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Spring Fields below this median.

• Sri Aksaya Garden: Rs 400 per sq.ft (2024)
• Sri Balaji Avenue: Rs 771 per sq.ft (2024)
• Sri Balamurugan Nagar: Rs 350 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Srinath Nagar: Rs 800 per sq.ft (2024)
• Saraswathi Nagar Phase -1: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Spring Fields

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees together to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Spring Fields?

The Sub Registrar Office that covers Spring Fields is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Uthukadu-B

The guideline value is a critical factor during the registration process when buying or selling property in Uthukadu-B. It serves as a benchmark for determining the applicable stamp duty and registration fees based on the property's value.

When a property is registered, the guideline value is used to ensure that the transaction reflects a fair value for taxation purposes. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Spring Fields?

The current guideline value for Spring Fields is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Spring Fields has remained at Rs 300 per sq.ft since the 2023 revision. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Spring Fields?

Spring Fields is classified as Residential Class I Type - II, which indicates its suitability for residential development within the area.

What are the stamp duty and registration fees for a property in Spring Fields?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,00,000. The stamp duty would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles all registrations for properties in the area.