Guideline Value for Sowbhagya Nagar

Sowbhagya Nagar guideline value

The current guideline value of Sowbhagya 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, classified as Residential Special Type - II.

How the guideline value of Sowbhagya Nagar has changed

Over the years, the guideline value of Sowbhagya Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 175 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017. The 2023 revision maintained the value at Rs 700 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The significant jump from 2007 to 2012 was a 300% rise. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Sowbhagya Nagar.

• Sorna Bungalow Nagar: Rs 700 per sq.ft (2024)
• Snt Nagar: Rs 2,389 per sq.ft (2024)
• S Na Garden: Rs 900 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 Sowbhagya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sowbhagya Nagar?

The Sub Registrar Office that covers Sowbhagya Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kayirambedu. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Sowbhagya Nagar?

The current guideline value of Sowbhagya 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 changed several times, with the most recent revisions being Rs 700 per sq.ft in 2023 and 2024, compared to Rs 469 per sq.ft in 2017 and Rs 175 per sq.ft in 2007.

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

Other streets in Kayirambedu include Sorna Bungalow Nagar and S Na Garden, both at Rs 700 and Rs 900 per sq.ft respectively. The values for Snt Nagar, S.K.S. Star Light Avenue, Sks Kathirvelan Garden, and Sks Ganesa Garden vary significantly higher.

How is the stamp duty calculated in Sowbhagya Nagar?

Stamp duty in Sowbhagya Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 7,00,000 would incur a stamp duty of Rs 49,000.

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

The Sub Registrar Office for Sowbhagya Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.