Guideline Value for Sowbakkya Nagar

Sowbakkya Nagar guideline value

The current guideline value of Sowbakkya Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sowbakkya Nagar has changed

The guideline value for Sowbakkya Nagar has undergone several revisions over the years. In 2002, the value was set at Rs 50 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a remarkable increase of 556%. The 2012 revision saw the value rise to Rs 1,000 per sq.ft, a 205% increase. However, between 2012 and 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

The register has no figure for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1900%, showcasing the significant changes over the years.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, where the median is Rs 1,500 per sq.ft. The guideline value for Sowbakkya Nagar is below this median.

• S.R Avenue (S.No.562/22A): Rs 1,000 per sq.ft (2024)
• Sree Kuberan Nagar: Rs 2,345 per sq.ft (2024)
• Sivamurugan Nagar: Rs 1,000 per sq.ft (2024)
• Siva Avenue: Rs 1,000 per sq.ft (2024)
• Sri Dhulasi Nagar: Rs 1,500 per sq.ft (2024)
• Shri Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sowbakkya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 calculations.

Which Sub Registrar Office covers Sowbakkya Nagar?

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

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

The guideline value is essential during the registration of property transactions in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sowbakkya Nagar?

The current guideline value of Sowbakkya Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting a total increase of 1900% over the years.

What are the other streets in Nandhivaram with their guideline values?

Other streets in Nandhivaram include S.R Avenue, Sivamurugan Nagar, and Siva Avenue, all at Rs 1,000 per sq.ft, while Sree Kuberan Nagar is at Rs 2,345 per sq.ft, and Sri Dhulasi Nagar and Shri Mahalakshmi Nagar are at Rs 1,500 per sq.ft.

What fees are associated with buying property in Sowbakkya Nagar?

When buying property in Sowbakkya Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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

The Gooduvancheri Sub Registrar Office covers Sowbakkya Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.