Guideline Value for Showbagya co-op Nagar

Showbagya co-op Nagar guideline value

The current guideline value of Showbagya co-op Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Mannoor village under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Showbagya co-op Nagar has changed

Over the years, the guideline value of Showbagya co-op Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision had a lower figure of Rs 402 per sq.ft, indicating a decrease of 33% from the 2012 value. The register has no figure for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 600 per sq.ft in 2023. The most recent revision in 2024 has maintained this value, showing a change of 0% from the previous year. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained unchanged.

Guideline values in Mannoor

Mannoor village has a total of 56 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,500 per sq.ft. The median value across these streets is Rs 250 per sq.ft, positioning Showbagya co-op Nagar above this median.

• Sithi Vinayagar Nagar: Rs 250 per sq.ft (2024)
• Siva Vishnu Nagar: Rs 500 per sq.ft (2024)
• Sri Astalaxmi Nagar: Rs 300 per sq.ft (2024)
• Sri Devi Nagar: Rs 250 per sq.ft (2024)
• Sanjeevi Nagar: Rs 200 per sq.ft (2024)
• Ram Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Showbagya co-op Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost for these fees Rs 54,000. 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 Showbagya co-op Nagar?

The Sub Registrar Office that covers Showbagya co-op Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for buying or selling property in Mannoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations associated with the transaction. It is essential for both parties to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Showbagya co-op Nagar?

The current guideline value of Showbagya co-op Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2012 revision, with a decrease to Rs 402 per sq.ft in 2017, followed by a return to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification of Showbagya co-op Nagar?

Showbagya co-op Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 54,000 based on the current guideline value.

Where is the Sub Registrar Office for Showbagya co-op Nagar located?

The Sub Registrar Office for Showbagya co-op Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.