Guideline Value for Sri Gayathri Doctors Nest Ph.II

Sri Gayathri Doctors Nest Ph.II guideline value

The current guideline value for Sri Gayathri Doctors Nest Ph.II is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Somangalam village under the Sriperumpudur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Sri Gayathri Doctors Nest Ph.II has changed

Over the years, the guideline value for Sri Gayathri Doctors Nest Ph.II has seen several revisions. The earliest recorded revision was in 2012, where the value was set at Rs 500 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 335 per sq.ft. However, the value increased to Rs 500 per sq.ft again in the 2023 revision, and it has remained at this level for the 2024 revision, reflecting a 49% increase from 2017 to 2023 and a 0% change from 2023 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, but overall, from 2012 to 2024, there has been no change, maintaining the value at Rs 500 per sq.ft. The consistent value in recent revisions indicates stability in the guideline value for this property.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Sri Gayathri Doctors Nest Ph.II is above this median, highlighting its relative value in the area.

• Sri Gayathiri Doctor's Nest: Rs 400 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri City: Rs 350 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 400 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Amman Garden: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Gayathri Doctors Nest Ph.II

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, which totals Rs 35,000, and the registration fee at 2% amounts to Rs 10,000. Therefore, the total cost for stamp duty and registration fees would be Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Gayathri Doctors Nest Ph.II?

The Sub Registrar Office that covers Sri Gayathri Doctors Nest Ph.II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Somangalam. It is used to determine the stamp duty and registration fees applicable during the property transaction process. Buyers should be aware that the guideline value is the basis for calculating these fees, ensuring that the transaction is registered accurately in accordance with local regulations.

When a property is sold, the guideline value is referenced to ascertain the minimum value at which the property can be registered. This ensures transparency and fairness in the property transaction process, as it protects both buyers and sellers by establishing a standard valuation method.

Frequently asked questions

What is the current guideline value of Sri Gayathri Doctors Nest Ph.II?

The current guideline value of Sri Gayathri Doctors Nest Ph.II is Rs 500 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 back to Rs 500 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, there has been no change in the guideline value.

What is the land classification of Sri Gayathri Doctors Nest Ph.II?

Sri Gayathri Doctors Nest Ph.II is classified as Commercial Class I Type - I. This classification can impact the uses allowed for the property.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for Sri Gayathri Doctors Nest Ph.II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Gayathri Doctors Nest Ph.II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the guideline value of Rs 500 per sq.ft, the stamp duty would be Rs 35,000.