Guideline Value for SUKA DEV RESIDENCY

Suka Dev Residency guideline value

The current guideline value of Suka Dev Residency is Rs 500 per sq.ft. It is located in Perumattu Nellore village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Suka Dev Residency has changed

The guideline value for Suka Dev Residency has seen several revisions over the years. In the 2007 revision, the value was Rs 350 per sq.ft, which increased to Rs 500 per sq.ft in the 2012 revision. However, it then dropped back to Rs 500 per sq.ft in the 2017 revision. The 2023 revision maintained this value at Rs 500 per sq.ft, and the upcoming 2024 revision will also reflect Rs 500 per sq.ft, indicating no change from the previous year.

Notably, the guideline value experienced a significant increase of 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while the increase from 2007 to 2012 was 43%. Overall, from 2007 to 2024, the guideline value has risen by 43%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Suka Dev Residency is below this median.

• Subamangala Nagar: Rs 700 per sq.ft (2024)
• Swathi Nagar: Rs 700 per sq.ft (2024)
• Tamil Issai Nagar Part-I: Rs 700 per sq.ft (2024)
• Sr Ruthraash Avenue: Rs 1,500 per sq.ft (2024)
• Teacher Sumangali Nagar: Rs 700 per sq.ft (2024)
• Sri Vaishnavi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Suka Dev Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making a total of Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Suka Dev Residency?

Suka Dev Residency falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable duties. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price of the property, ensuring that the correct fees are paid during the registration process.

Frequently asked questions

What is the current guideline value of Suka Dev Residency?

The current guideline value of Suka Dev Residency is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2023 to 2024, with significant changes occurring in previous years, including a 49% increase from 2017 to 2023.

What is the land classification for Suka Dev Residency?

Suka Dev Residency is classified as Residential Class I Type - I, indicating its designation for residential use.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 5,00,000 would incur a stamp duty of Rs 35,000 at a rate of 7%.