Guideline Value for Sri Rajaganapathy Nagar

Sri Rajaganapathy Nagar guideline value

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

How the guideline value of Sri Rajaganapathy Nagar has changed

The guideline value for Sri Rajaganapathy Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The most recent revisions in 2023 and 2024 maintained the value at Rs 400 per sq.ft, indicating no change between these years.

The overall change from the 2007 revision to the 2024 revision reflects a 300% increase, with the 2023 to 2024 revision showing a stable guideline value. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Sri Rajaganapathy Nagar's 2024 figure above this median.

• Sri Ram Avenue: Rs 250 per sq.ft (2024)
• Srinivasapuram: Rs 200 per sq.ft (2024)
• Sri Ranganathapuram Colony: Rs 250 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 400 per sq.ft (2024)
• Sri Thanmitha City: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rajaganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total cost for these charges Rs 36,000. Note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Rajaganapathy Nagar?

The Sub Registrar Office that covers Sri Rajaganapathy 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

The guideline value is a crucial factor when registering property in Somangalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction value. It serves as a benchmark for both buyers and sellers, ensuring transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Rajaganapathy Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the median guideline value in Somangalam?

The median guideline value for streets in Somangalam is Rs 350 per sq.ft, with Sri Rajaganapathy Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in Sri Rajaganapathy Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for Sri Rajaganapathy Nagar located?

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