Guideline Value for Sterling Gateway

Sterling Gateway guideline value

The current guideline value of Sterling Gateway is Rs 750 per sq.ft, effective from 1 July 2024. This property is located in Ponthoor village under the Sriperumpudur SRO, classified as Mixed Special Type - I.

How the guideline value of Sterling Gateway has changed

The guideline value for Sterling Gateway has seen several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was lowered to Rs 502 per sq.ft, marking a decrease of 33% from the 2012 figure. However, it increased significantly by 49% to Rs 750 per sq.ft in the 2023 revision, which has been maintained in the 2024 revision with no change.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value remains the same at Rs 750 per sq.ft.

Guideline values in Ponthoor

Ponthoor village has a total of 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,239 per sq.ft. The median value for these streets is Rs 300 per sq.ft, making the guideline value of Sterling Gateway above this median.

• Subasree Nagar: Rs 300 per sq.ft (2024)
• Sri Vishnu Nagar: Rs 600 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 300 per sq.ft (2024)
• Suriya Gandhi Poo Street: Rs 300 per sq.ft (2024)
• Thamarai Poo Street: Rs 500 per sq.ft (2024)
• Sri Ram Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sterling Gateway

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. It is important to 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 further calculations.

Which Sub Registrar Office covers Sterling Gateway?

The Sub Registrar Office covering Sterling Gateway 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 Ponthoor

The guideline value is a critical factor in the registration process for property transactions in Ponthoor. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value for Sterling Gateway?

The current guideline value for Sterling Gateway is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions in 2012, 2017, 2023, and 2024, with the value fluctuating between Rs 502 and Rs 750 per sq.ft.

What is the land classification for Sterling Gateway?

Sterling Gateway is classified as Mixed Special Type - I, which indicates its zoning and permissible uses under local regulations.

What are the stamp duty and registration fees for properties in Sterling Gateway?

For a property valued at Rs 7,50,000, the stamp duty is Rs 52,500, and the registration fee is Rs 15,000, totaling Rs 67,500.

Which office handles registrations for Sterling Gateway?

The Sriperumpudur Sub Registrar Office handles registrations for Sterling Gateway, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.