Guideline Value for Sumangali Nagar

Sumangali Nagar guideline value

The current guideline value of Sumangali Nagar, located in Eraiyur village under the Sriperumpudur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sumangali Nagar has changed

Over the years, the guideline value of Sumangali Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 70 per sq.ft. This increased significantly to Rs 350 per sq.ft in 2012, marking a 400% rise. However, in the 2017 revision, the value decreased to Rs 234 per sq.ft, reflecting a drop of 33%. The guideline value then rose to Rs 350 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

From 2017 to 2023, there was a notable increase of 50%, bringing the value back to Rs 350 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 400%, indicating a significant change in the value over the years. It is important to note that the register has no figure for the years 2002 and 2003 for this street.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that have 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 of Sumangali Nagar is above this median, reflecting its position within the village.

• Sumangali Nagar Extn: 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

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, totaling 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sumangali Nagar?

The Sub Registrar Office that covers Sumangali Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Eraiyur, the guideline value is a crucial factor during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction complies with local regulations.

The guideline value serves as a reference point for the government to assess the value of the property being transferred. Buyers and sellers should be aware that the guideline value can impact the overall costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Sumangali Nagar?

The current guideline value of Sumangali Nagar 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 from Rs 70 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, then decreased to Rs 234 per sq.ft in 2017, and returned to Rs 350 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for properties in Sumangali Nagar?

For a property valued at the current guideline value of Rs 3,50,000, the stamp duty would be Rs 24,500 and the registration fee would be Rs 7,000, totaling Rs 31,500.

Which office handles property registrations in Sumangali Nagar?

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

How is the guideline value determined in Eraiyur?

The guideline value in Eraiyur is determined by the Registration Department and is based on various factors, including land classification and historical revisions. It serves as a reference for calculating stamp duty and registration fees during property transactions.