Guideline Value for SUMANGALI NAGAR

Sumangali Nagar guideline value

The current guideline value of Sumangali Nagar is Rs 101 per sq.ft, effective from 1 July 2024. This village falls under the Cheyyur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sumangali Nagar has changed

The guideline value for Sumangali Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 101 per sq.ft, an increase of 1% from the 2023 revision, which was Rs 100 per sq.ft. Prior to that, the 2017 revision recorded the guideline value at Rs 50 per sq.ft, marking a significant increase of 100% over the subsequent six years until 2023. The register has no figures for the years 2012, 2007, 2003, and 2002 for this street.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 102%. This shows a steady rise in the valuation of properties in Sumangali Nagar over the years.

Guideline values in Cheyyur - A

In Cheyyur - A, there are 64 streets under the Cheyyur SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 500 per sq.ft. The median value is Rs 101 per sq.ft, which is equal to the guideline value of Sumangali Nagar.

• Sundivakathar Street: Rs 200 per sq.ft (2024)
• Thachan Street: Rs 101 per sq.ft (2024)
• Thandumariyamman Koil Street: Rs 101 per sq.ft (2024)
• Thiropathiamman Koil Street: Rs 350 per sq.ft (2024)
• VADACOLONY 1st STREET: Rs 101 per sq.ft (2024)
• Vadakku Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sumangali Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total cost for these fees to Rs 9,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sumangali Nagar?

The Sub Registrar Office that covers Sumangali Nagar is the Cheyyur Sub Registrar Office, located at 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 a critical factor when buying or selling property in Cheyyur - A, as it serves as a benchmark for determining the stamp duty and registration fees. During the registration process, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the costs involved in the transaction.

It is essential for buyers to understand that the guideline value may differ from the actual sale price of a property. Therefore, knowing the guideline value helps in making informed decisions during property transactions in Sumangali Nagar.

Frequently asked questions

What is the current guideline value of Sumangali Nagar?

The current guideline value of Sumangali Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 50 per sq.ft in 2017 to Rs 101 per sq.ft in 2024, marking an overall increase of 102% over this period.

What are the registration fees for property in Sumangali Nagar?

For a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 and the registration fee would be Rs 2,020, totaling Rs 9,090.

Which office handles registrations for Sumangali Nagar?

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

What is the land classification of Sumangali Nagar?

Sumangali Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use.