Guideline Value for Sukibhava City

Sukibhava City guideline value

The current guideline value for Sukibhava City, located in Asuoor village under the Walajabad SRO, is Rs 100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sukibhava City has changed

The guideline value for Sukibhava City has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 100 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. However, the value saw a significant increase in the 2023 revision, returning to Rs 100 per sq.ft, and has remained at this rate through the 2024 revision, showing no change from the previous year.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 100 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Asuoor

In Asuoor, there are five streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft. Sukibhava City's 2024 figure of Rs 100 per sq.ft is equal to the median value of Rs 100 per sq.ft for these streets.

• Vignesh Nagar: Rs 100 per sq.ft (2024)
• Leela Nagar: Rs 150 per sq.ft (2024)
• Aarthi Nagar: Rs 100 per sq.ft (2024)
• Santha Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sukibhava City

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. 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 Sukibhava City?

The Sub Registrar Office that covers Sukibhava City is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Asuoor

The guideline value is a crucial factor in the registration process when buying or selling property in Asuoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Sukibhava City?

The current guideline value of Sukibhava City is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent changes being a return to Rs 100 per sq.ft in 2023 and 2024, after a decrease to Rs 67 per sq.ft in 2017.

What is the land classification for Sukibhava City?

The land classification for Sukibhava City is Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

For a 1,000 sq.ft plot valued at Rs 100 per sq.ft, the total stamp duty and registration fees would amount to Rs 9,000, based on the guideline value.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.