Guideline Value for Sri Kumaran Nagar

Sri Kumaran Nagar guideline value

The current guideline value of Sri Kumaran Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Somangalam_B village and falls under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Kumaran Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. This figure remained unchanged at Rs 400 per sq.ft in the 2023 revision and continued at the same value in the 2024 revision, resulting in a 49% increase from 2017 to 2023. The guideline value has not changed from 2023 to 2024, showing a 0% change in that period.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions with values are from 2017, 2023, and 2024, with the overall change from 2017 to 2024 being +49%.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value is Rs 250 per sq.ft, making the guideline value of Sri Kumaran Nagar above this median.

• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Gayathri Doctors Nest Ph.II: Rs 500 per sq.ft (2024)
• Sri Gayathiri Doctor's Nest: Rs 400 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Srinivasapuram: Rs 200 per sq.ft (2024)
• Sri City: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kumaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, which totals Rs 28,000, and the registration fee is 2%, amounting to Rs 8,000. Together, the stamp duty and registration fee come to Rs 36,000. 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 Sri Kumaran Nagar?

The Sub Registrar Office covering Sri Kumaran 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 Somangalam_B

The guideline value plays a crucial role in the registration process when buying or selling property in Somangalam_B. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is considered the minimum value for taxation purposes. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Kumaran Nagar?

The current guideline value of Sri Kumaran Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both 2023 and 2024, marking a 49% increase from 2017 to 2024. There was no change from 2023 to 2024.

What is the land classification of Sri Kumaran Nagar?

Sri Kumaran Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

What are the stamp duty rates for properties in Sri Kumaran Nagar?

The stamp duty rate for properties in Sri Kumaran Nagar is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same amount.

Where can I find more information about the Sub Registrar Office?

The Sub Registrar Office for Sri Kumaran Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the official website.