Guideline Value for Suganthi Nagar

Suganthi Nagar guideline value

The current guideline value of Suganthi Nagar, located in Somangalam_B village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Suganthi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 268 per sq.ft. This figure remained unchanged at Rs 400 per sq.ft in the 2023 revision and continues to be Rs 400 per sq.ft in the 2024 revision, indicating a 49% increase from 2017 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, there has been no change, with the guideline value remaining at Rs 400 per sq.ft. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Somangalam_B

In Somangalam_B village, 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, with a median value of Rs 250 per sq.ft. The guideline value of Suganthi Nagar is above this median.

• Thangam Nagar: Rs 250 per sq.ft (2024)
• Thangam Nagar-II: Rs 250 per sq.ft (2024)
• Thangam Nagar-III: Rs 250 per sq.ft (2024)
• Sri Thanmitha City: Rs 350 per sq.ft (2024)
• Thangam Nagar - III Extension: Rs 250 per sq.ft (2024)
• Thendral Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Suganthi 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 at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. 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 Suganthi Nagar?

The Sub Registrar Office that covers Suganthi 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 is an essential factor in the property registration process. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property in Somangalam_B, the guideline value influences the calculation of stamp duty and registration fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and compliance with the legal requirements for property transactions.

Frequently asked questions

What is the current guideline value of Suganthi Nagar?

The current guideline value of Suganthi 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 over this period. There has been no change from 2023 to 2024.

What is the land classification of Suganthi Nagar?

Suganthi Nagar is classified as Residential Special Type - I. This classification indicates the intended use of the land for residential purposes.

Where can I find the Sub Registrar Office for Suganthi Nagar?

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

What are the stamp duty and registration fees for property in Suganthi Nagar?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. For example, for a guideline value of Rs 4,00,000, the total fees would amount to Rs 36,000.