Guideline Value for Soundarapandian Nagar Extn

Soundarapandian Nagar Extn guideline value

The current guideline value of Soundarapandian Nagar Extn is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village and falls under the jurisdiction of the Gooduvancheri SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Soundarapandian Nagar Extn has changed

The guideline value for Soundarapandian Nagar Extn has seen several revisions over the years. In 2007, the guideline value was Rs 110 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017 before rising again to Rs 500 per sq.ft in both 2023 and 2024, showing no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2007 to 2012 was a remarkable 355%. Overall, from 2007 to 2024, the guideline value has increased by 355%, indicating significant changes in the valuation over time.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for Soundarapandian Nagar Extn is below this median.

• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 500 per sq.ft (2024)
• Sri Iyyanar Nagar: Rs 500 per sq.ft (2024)
• Senthil Nagar-II: Rs 400 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)
• SRI Mayil vaganam Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Soundarapandian Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Soundarapandian Nagar Extn?

The Sub Registrar Office that covers Soundarapandian Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Neelamangalam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction. This ensures that both the buyer and seller are aware of the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Soundarapandian Nagar Extn?

The current guideline value of Soundarapandian Nagar Extn is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 110 per sq.ft in 2007 to Rs 500 per sq.ft in both 2012 and 2024, with a notable decrease to Rs 335 per sq.ft in 2017.

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

For a property valued at Rs 5,00,000, the stamp duty is Rs 35,000 and the registration fee is Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers Soundarapandian Nagar Extn?

The Gooduvancheri Sub Registrar Office covers Soundarapandian Nagar Extn, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202.

What is the land classification for Soundarapandian Nagar Extn?

The land classification for Soundarapandian Nagar Extn is Residential Class I Type - I.