Guideline Value for Sri Thanmitha City

Sri Thanmitha City guideline value

The current guideline value of Sri Thanmitha City is Rs 350 per sq.ft, effective from 1 July 2024. This property is located in Somangalam_B village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Thanmitha City has changed

The guideline value for Sri Thanmitha City has seen several revisions over the years. In the 2017 revision, the value was Rs 234 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 350 per sq.ft. The current 2024 revision also maintains this value at Rs 350 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 50%. Overall, from 2017 to 2024, the guideline value has increased by 50% as well. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Sri Thanmitha City's guideline value above that median.

• Sri Ranganathapuram Colony: Rs 250 per sq.ft (2024)
• Sri Ram Avenue: Rs 250 per sq.ft (2024)
• Suganthi Nagar: Rs 400 per sq.ft (2024)
• Sri Rajaganapathy Nagar: Rs 400 per sq.ft (2024)
• Srinivasapuram: Rs 200 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Thanmitha City

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, while the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. 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 Thanmitha City?

The Sri Thanmitha City falls under the jurisdiction of 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 is a crucial factor in the registration process when buying or selling property in Somangalam_B. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for legal purposes.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that buyers must pay. This ensures that the government receives appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Thanmitha City?

The current guideline value of Sri Thanmitha City is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2023 to 2024, while it increased by 50% from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in 2023.

What is the land classification for Sri Thanmitha City?

Sri Thanmitha City is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Sri Thanmitha City?

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

How is stamp duty calculated for properties in Sri Thanmitha City?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 3,50,000 would incur a stamp duty of Rs 24,500 at 7%.