Guideline Value for Sowndari garden

Sowndari garden guideline value

The current guideline value of Sowndari garden is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Vallam village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sowndari garden has changed

Over the years, the guideline value of Sowndari garden has undergone several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, the value significantly increased by 79% to Rs 600 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 20%.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Sowndari garden is above this median.

• Sri Arabindo Nagar (Vasantham Nature City): Rs 200 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 300 per sq.ft (2024)
• Sri Devi Nagar: Rs 150 per sq.ft (2024)
• Sri Ram Nagar: Rs 150 per sq.ft (2024)
• Saravanapuri Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sowndari garden

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sowndari garden?

The Sub Registrar Office that covers Sowndari garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sowndari garden?

The current guideline value of Sowndari garden is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023 and remained the same in 2024.

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

Other streets in Vallam include Sri Arabindo Nagar at Rs 200 per sq.ft, Sivan Koil Street at Rs 200 per sq.ft, Sri Balaji Nagar at Rs 300 per sq.ft, and several others with values ranging from Rs 150 to Rs 300 per sq.ft.

What is the registration fee for property in Sowndari garden?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 6,00,000, the registration fee would be Rs 12,000.

Where can I find the Sub Registrar Office for Sowndari garden?

The Sub Registrar Office for Sowndari garden is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.