Guideline Value for Sumangali Nagar Extn

Sumangali Nagar Extn guideline value

The current guideline value of Sumangali Nagar Extn is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Eraiyur village under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Sumangali Nagar Extn has changed

The guideline value for Sumangali Nagar Extn has undergone several revisions over the years. In 2012, the guideline value was set at Rs 350 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 234 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 350 per sq.ft in the 2023 revision, reflecting a 50% increase from the 2017 figure. The current revision in 2024 maintains this value at Rs 350 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Sumangali Nagar Extn is above this median, indicating a higher valuation compared to many other streets in the area.

• Sumangali Nagar: Rs 350 per sq.ft (2024)
• Sri Vanmugil Avenue: Rs 300 per sq.ft (2024)
• Theru veedhiyamman Koil Street: Rs 200 per sq.ft (2024)
• Thideer Nagar: Rs 200 per sq.ft (2024)
• Sri Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sumangali Nagar Extn

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, and the registration fee at 2% would be Rs 7,000, making the total cost for these fees 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sumangali Nagar Extn?

The Sub Registrar Office that covers Sumangali Nagar Extn 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 Eraiyur

The guideline value is a critical factor in the registration process of property transactions in Eraiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Sumangali Nagar Extn?

The current guideline value of Sumangali Nagar Extn is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 350 per sq.ft. The value was previously Rs 350 per sq.ft in 2012, dropped to Rs 234 per sq.ft in 2017, and returned to Rs 350 per sq.ft in 2023.

What is the land classification for Sumangali Nagar Extn?

Sumangali Nagar Extn is classified as Residential Special Type - I, indicating its designation for residential purposes.

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 3,50,000, the total fees would amount to Rs 31,500.

Which office handles registrations for Sumangali Nagar Extn?

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