Guideline Value for Sky city

Sky city guideline value

The current guideline value of Sky city, located in Kunduperumpedu village, under the Sriperumpudur SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which will be in place starting 1 July 2024.

How the guideline value of Sky city has changed

Looking at the historical revisions, the guideline value for Sky city has seen several changes over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision recorded a lower value of Rs 134 per sq.ft, marking a decrease of 33% from 2012. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft.

In the latest 2024 revision, the guideline value remains at Rs 200 per sq.ft, reflecting no change from the previous year’s figure of Rs 200 per sq.ft. There are also revisions from the years 2002, 2003, and 2007, but the register has no figure for this street in those years.

Guideline values in Kunduperumpedu

Kunduperumpedu village has a total of 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value. The values range from Rs 100 to Rs 500 per sq.ft, with the median being Rs 200 per sq.ft, which is equal to the 2024 guideline value for Sky city. Below are the guideline values for other streets in Kunduperumpedu:

• Shriradi Sai Nagar: Rs 300 per sq.ft (2024)
• Sri Isvaryam Garden: Rs 300 per sq.ft (2024)
• Selvam Nagar: Rs 250 per sq.ft (2024)
• Sri Moogambikai Nagar: Rs 250 per sq.ft (2024)
• Sri Padmanaba Nagar: Rs 200 per sq.ft (2024)
• Sri Saravana Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sky city

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty is charged at 7%, amounting to Rs 14,000, while the registration fee is 2%, which totals Rs 4,000. Together, the total cost for stamp duty and registration fee would be Rs 18,000. 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 Sky city?

The Sub Registrar Office that covers Sky city is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kunduperumpedu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the guideline value to ensure they are paying the correct fees based on the property’s valuation.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property transactions and ensures that all parties are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Sky city?

The current guideline value of Sky city is Rs 200 per sq.ft, effective from the 2024 revision starting 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2012 revision, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Kunduperumpedu with their guideline values?

Other streets in Kunduperumpedu include Shriradi Sai Nagar and Sri Isvaryam Garden at Rs 300 per sq.ft, Selvam Nagar and Sri Moogambikai Nagar at Rs 250 per sq.ft, and Sri Padmanaba Nagar and Sri Saravana Nagar at Rs 200 per sq.ft.

What is the stamp duty rate for properties in Sky city?

The stamp duty rate for properties in Sky city is 7% of the guideline value or the sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Sriperumpudur Sub Registrar Office located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone or by using the online tool to find your SRO.