Guideline Value for SUMANGALI NAGAR

Sumangali Nagar guideline value

The current guideline value of Sumangali Nagar is Rs 448 per sq.ft, effective from 1 July 2024. This area is located in Sirumaliyoor village and falls under the Salavakkam SRO. The land classification for this area is Residential Special Type - IV.

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 maintains the guideline value at Rs 448 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision set the value at Rs 300 per sq.ft, marking a significant increase of 49% from 2017 to 2023.

Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Sirumaliyoor

Currently, there are no specific village figures provided for Sirumaliyoor. Sumangali Nagar is the only street mentioned under the Salavakkam SRO.

Stamp duty and registration fee for property in Sumangali Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 448 per sq.ft, the total guideline value amounts to Rs 4,48,000. The stamp duty at 7% would be Rs 31,360, and the registration fee at 2% would be Rs 8,960, totaling Rs 40,320. Stamp 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 Sumangali Nagar?

The Sub Registrar Office that covers Sumangali Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sirumaliyoor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value for the area.

When a property is bought or sold, the guideline value helps determine the official value of the transaction for legal and taxation purposes. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sumangali Nagar?

The current guideline value of Sumangali Nagar is Rs 448 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2017 to 2023, the guideline value increased from Rs 300 per sq.ft to Rs 448 per sq.ft, a rise of 49%. The value has remained unchanged at Rs 448 per sq.ft from 2023 to 2024.

What is the land classification for Sumangali Nagar?

The land classification for Sumangali Nagar is Residential Special Type - IV, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Sumangali Nagar?

For a property valued at Rs 4,48,000, the stamp duty would be Rs 31,360, and the registration fee would be Rs 8,960, totaling Rs 40,320. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sumangali Nagar located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone, and it handles registrations for Sumangali Nagar.