Guideline Value for SUMATHI NAGAR S.NO.320/4, 4A(PART)

Sumathi Nagar S.No.320/4, 4a(Part) guideline value

The current guideline value for Sumathi Nagar S.No.320/4, 4a(Part) is Rs 830 per sq.ft. This property is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sumathi Nagar S.No.320/4, 4a(Part) has changed

The guideline value for Sumathi Nagar has experienced several revisions over the years. In 2012, the guideline value was Rs 750 per sq.ft, which then decreased to Rs 502 per sq.ft in 2017. Following this, the value increased significantly to Rs 750 per sq.ft in 2023, and then to Rs 830 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. Overall, from 2012 to 2024, there has been an increase of 11% in the guideline value.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, which is equal to the guideline value for Sumathi Nagar.

• Sumathi Nagar: Rs 830 per sq.ft (2024)
• Sugh Dev Residency: Rs 3,000 per sq.ft (2024)
• Sundara Vinayagar Koil Street: Rs 830 per sq.ft (2024)
• Sundar Nagar: Rs 830 per sq.ft (2024)
• St Nagar: Rs 1,330 per sq.ft (2024)
• StepStone: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sumathi Nagar S.No.320/4, 4a(Part)

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees to Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sumathi Nagar S.No.320/4, 4a(Part)?

The Sub Registrar Office that covers Sumathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padappai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the actual sale price of the property. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sumathi Nagar S.No.320/4, 4a(Part)?

The current guideline value of Sumathi Nagar S.No.320/4, 4a(Part) is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Sumathi Nagar S.No.320/4, 4a(Part)?

Sumathi Nagar S.No.320/4, 4a(Part) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 and the registration fee would be Rs 16,600, totaling Rs 74,700.

Where is the Sub Registrar Office located for this property?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.