Guideline Value for SUMATHI AMMAL NAGAR

Sumathi Ammal Nagar guideline value

The current guideline value of Sumathi Ammal Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Marutham village, under the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of Sumathi Ammal Nagar has changed

Over the years, the guideline value of Sumathi Ammal Nagar has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. Following this, the 2023 revision brought it back to Rs 300 per sq.ft, which was maintained in the 2024 revision. Notably, there are no figures for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has remained the same, showing an overall change of 0%.

Guideline values in Marutham

In Marutham village, there are eight streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 300 per sq.ft. The median value among these streets is Rs 150 per sq.ft, positioning Sumathi Ammal Nagar's 2024 value above this median.

• Thirupathy Nagar: Rs 100 per sq.ft (2024)
• Thirupathy Nagar Extension: Rs 300 per sq.ft (2024)
• Sri Madhu Nagar Phase -I: Rs 150 per sq.ft (2024)
• Unnamed Layout: Rs 300 per sq.ft (2024)
• Uvs Real Estates Private Limited: Rs 150 per sq.ft (2024)
• Sharon Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sumathi Ammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty, calculated at 7%, would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sumathi Ammal Nagar?

The Sub Registrar Office that covers Sumathi Ammal Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Marutham. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and avoid any discrepancies during the registration process.

When a property is registered, the guideline value is used to calculate the necessary fees. This ensures that both parties are aware of the official valuation of the property, which helps in establishing a fair transaction process.

Frequently asked questions

What is the current guideline value of Sumathi Ammal Nagar?

The current guideline value of Sumathi Ammal Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 300 per sq.ft in both 2023 and 2024. The value decreased to Rs 201 per sq.ft in 2017 from Rs 300 per sq.ft in 2012.

What is the land classification for Sumathi Ammal Nagar?

Sumathi Ammal Nagar is classified as Residential Special Type - III. This classification indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for Sumathi Ammal Nagar?

The Sub Registrar Office for Sumathi Ammal Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sumathi Ammal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,00,000 would incur a stamp duty of Rs 21,000.