Guideline Value for Sri Amman Garden

Sri Amman Garden guideline value

The current guideline value of Sri Amman Garden is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Somangalam village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Amman Garden has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 50 per sq.ft, which increased to Rs 250 per sq.ft in 2012, marking a 400% rise. However, in the 2017 revision, the value decreased to Rs 167 per sq.ft, a drop of 33%. The value then increased to Rs 250 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 50% increase from 2017 to 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Somangalam

Somangalam village has a total of 86 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value in this area is Rs 350 per sq.ft, placing Sri Amman Garden's 2024 figure below that median.

• Sri City: Rs 350 per sq.ft (2024)
• Somangalam Main Road: Rs 500 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sky Avenue: Rs 150 per sq.ft (2024)
• Sri Gayathiri Doctor's Nest: Rs 400 per sq.ft (2024)
• Sri Gayathri Doctors Nest Ph.II: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Amman Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Amman Garden?

The Sub Registrar Office that covers Sri Amman 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 Somangalam

The guideline value is a crucial factor when registering a property in Somangalam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value serves as a reference point for both parties. It helps in establishing a fair price for the property and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Amman Garden?

The current guideline value of Sri Amman Garden is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then decreased to Rs 167 per sq.ft in 2017, and has remained at Rs 250 per sq.ft in 2023 and 2024.

What is the median guideline value in Somangalam?

The median guideline value in Somangalam is Rs 350 per sq.ft, with Sri Amman Garden's current value being below this median.

What are the stamp duty and registration fees for property in Sri Amman Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 2,50,000. The stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Where is the Sub Registrar Office for Sri Amman Garden located?

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