Guideline Value for Sorkam Nagar

Sorkam Nagar guideline value

The current guideline value of Sorkam Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village, which falls under the Sriperumpudur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sorkam Nagar has changed

The guideline value for Sorkam Nagar has seen several revisions over the years. The most recent figures show that the guideline value was Rs 1,200 per sq.ft in both 2023 and 2024, indicating no change between these two years. Prior to that, in 2017, the guideline value was Rs 804 per sq.ft, reflecting a significant increase of 49% to the current value from 2017 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Sorkam Nagar. The 2024 revision shows a consistent value with the previous year, while the increase from 2017 to 2023 was also 49%.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 400 to Rs 3,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Sorkam Nagar's 2024 figure above the median.

• Spring Blossoms: Rs 800 per sq.ft (2024)
• S.J Nagar: Rs 1,200 per sq.ft (2024)
• Sivanthangal Sree Nagar X th Street: Rs 700 per sq.ft (2024)
• Sivanthangal Sree Nagar XI th Street: Rs 700 per sq.ft (2024)
• Sivanthangal Sree Nagar V th Street: Rs 700 per sq.ft (2024)
• Sivanthangal Sree Nagar VI th Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sorkam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost for these fees Rs 1,08,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sorkam Nagar?

The Sub Registrar Office that covers Sorkam 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 Sriperumbudur A

The guideline value is a crucial factor in the registration process of property transactions in Sriperumbudur A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the necessary fees and is essential for legal compliance during the transaction.

Frequently asked questions

What is the current guideline value of Sorkam Nagar?

The current guideline value of Sorkam Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2023 to 2024, while it increased from Rs 804 per sq.ft in 2017, marking a 49% rise overall from 2017 to 2024.

What is the land classification for Sorkam Nagar?

Sorkam Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Sorkam Nagar?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000. This is calculated based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Sorkam Nagar?

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