Guideline Value for Sorna Bungalow Nagar

Sorna Bungalow Nagar guideline value

The current guideline value of Sorna Bungalow Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village and falls under the Chengleput Joint II SRO, with a land classification of Residential Special Type - II.

How the guideline value of Sorna Bungalow Nagar has changed

Over the years, the guideline value for Sorna Bungalow Nagar has seen several revisions. The most recent revision in 2024 maintains the guideline value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 469 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. The 2012 revision also had a guideline value of Rs 700 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 700 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data means that the changes in guideline value during those years are not available for review.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which aligns with the current guideline value of Sorna Bungalow Nagar.

• Snt Nagar: Rs 2,389 per sq.ft (2024)
• S Na Garden: Rs 900 per sq.ft (2024)
• Sowbhagya Nagar: Rs 700 per sq.ft (2024)
• S.K.S. Star Light Avenue: Rs 1,045 per sq.ft (2024)
• Sks Kathirvelan Garden: Rs 2,389 per sq.ft (2024)
• Sks Ganesa Garden: Rs 2,986 per sq.ft (2024)

Stamp duty and registration fee for property in Sorna Bungalow Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. 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 Sorna Bungalow Nagar?

The Sorna Bungalow Nagar area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is considered to ensure that the correct fees are collected. This value helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sorna Bungalow Nagar?

The current guideline value of Sorna Bungalow Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024. However, it increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, marking a 49% rise.

What is the land classification for Sorna Bungalow Nagar?

Sorna Bungalow Nagar is classified as Residential Special Type - II, which indicates the type of development and usage permitted in this area.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for property in Sorna Bungalow Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the stamp duty would be Rs 49,000.