Guideline Value for Sorkkam Nagar

Sorkkam Nagar guideline value

The current guideline value of Sorkkam Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Sorkkam Nagar has changed

The guideline value of Sorkkam Nagar has undergone several revisions over the years. In the 2012 revision, the value was Rs 2,400 per sq.ft, which decreased to Rs 1,608 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,400 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the guideline value at Rs 2,640 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, making Sorkkam Nagar's 2024 figure of Rs 2,640 per sq.ft above this median.

• Spr Kamakshi Avenue: Rs 3,960 per sq.ft (2024)
• S.P.S. Nagar: Rs 1,980 per sq.ft (2024)
• Siva Shanmugam Street: Rs 1,650 per sq.ft (2024)
• Siva Shankar Nagar: Rs 2,970 per sq.ft (2024)
• Sivasakthi Street: Rs 2,310 per sq.ft (2024)
• Siva Sakthi Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sorkkam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total to Rs 2,37,600. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sorkkam Nagar?

The Sub Registrar Office that covers Sorkkam 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 Perungalathur

The guideline value plays a crucial role during the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs involved in the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sorkkam Nagar?

The current guideline value of Sorkkam Nagar is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2012 to Rs 1,608 per sq.ft in 2017, then to Rs 2,400 per sq.ft in 2023, and currently to Rs 2,640 per sq.ft in 2024.

What is the land classification of Sorkkam Nagar?

Sorkkam Nagar is classified as Residential Class I Type - I. This classification is important for understanding the types of developments permitted in the area.

Where can I find the Sub Registrar Office for Sorkkam Nagar?

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

How is the stamp duty calculated for property in Sorkkam Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,84,800.