Guideline Value for Sky home city

Sky home city guideline value

The current guideline value of Sky home city in Maakaanyam village, under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This classification falls under New House Site Type -III (Approved Lay-Out).

How the guideline value of Sky home city has changed

Over the years, the guideline value for Sky home city has seen several revisions. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 234 per sq.ft, marking a decrease of 33%. In the subsequent 2023 revision, the value returned to Rs 350 per sq.ft, and it has remained the same in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was a significant increase of 50%. Overall, comparing the values from 2012 to 2024, there has been no change, as the 2024 guideline value is the same as the 2012 figure. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Sky home city.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Sky home city is above this median, reflecting its current valuation.

• Sri Balaji Nagar: Rs 300 per sq.ft (2024)
• Shanthi Avenue: Rs 300 per sq.ft (2024)
• Sri city: Rs 250 per sq.ft (2024)
• Sri Hari balaji nagar: Rs 300 per sq.ft (2024)
• Sri Kalyana Srinivasaperumal koil street: Rs 400 per sq.ft (2024)
• Sri Murugan City: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sky home city

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. 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 Sky home city?

The Sub Registrar Office covering Sky home 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 information.

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

The guideline value is a crucial factor in the registration process for property transactions in Maakaanyam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sky home city?

The current guideline value of Sky home city is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with a peak of Rs 350 per sq.ft in 2012, a drop to Rs 234 per sq.ft in 2017, and returning to Rs 350 per sq.ft in 2023 and 2024.

What are the guideline values for other streets in Maakaanyam?

Other streets in Maakaanyam have varying guideline values, with rates ranging from Rs 100 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft.

How is the stamp duty calculated in Sky home city?

Stamp duty in Sky home city is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 3,50,000 incurs a stamp duty of Rs 24,500.

Where is the Sub Registrar Office for Sky home city located?

The Sub Registrar Office for Sky home city is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.