Guideline Value for Sowntharapandiyan Nagar

Sowntharapandiyan Nagar guideline value

The current guideline value of Sowntharapandiyan Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Karasangal village under the Sriperumpudur SRO, classified as Commercial Class I Type - II.

How the guideline value of Sowntharapandiyan Nagar has changed

The guideline value for Sowntharapandiyan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2023 revision, where it was also Rs 800 per sq.ft. The 2017 revision recorded a lower value of Rs 536 per sq.ft, showing a decrease of 33% from 2012. The 2024 revision has again maintained the value at Rs 800 per sq.ft, reflecting no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained stable, showing an overall change of 0%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Karasangal

In Karasangal village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 3,550 per sq.ft. The median value across these streets is Rs 402 per sq.ft, placing Sowntharapandiyan Nagar's 2024 figure above this median.

• Sindhu Nagar: Rs 700 per sq.ft (2024)
• Sigaram Avenue: Rs 1,500 per sq.ft (2024)
• Selva Vinayagar Koil Street: Rs 250 per sq.ft (2024)
• RPG Gopika garden: Rs 150 per sq.ft (2024)
• Royal Homes: Rs 400 per sq.ft (2024)
• Tambaram Kanchipuram Road: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Sowntharapandiyan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is important to note that the 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 Sowntharapandiyan Nagar?

The Sub Registrar Office that covers Sowntharapandiyan Nagar 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 Karasangal

The guideline value plays a crucial role in the registration process when buying or selling property in Karasangal. 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 registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sowntharapandiyan Nagar?

The current guideline value of Sowntharapandiyan Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, except for a revision in 2017 where it decreased to Rs 536 per sq.ft. The value was Rs 800 per sq.ft in 2023 and remains the same in 2024.

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

Other streets in Karasangal include Sindhu Nagar at Rs 700 per sq.ft, Sigaram Avenue at Rs 1,500 per sq.ft, and Selva Vinayagar Koil Street at Rs 250 per sq.ft among others.

What are the fees associated with property registration in Sowntharapandiyan Nagar?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a property valued at Rs 8,00,000 would incur a total fee of Rs 72,000.

Where is the Sub Registrar Office located for Sowntharapandiyan Nagar?

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