Guideline Value for Sumangali Nagar

Sumangali Nagar guideline value

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

How the guideline value of Sumangali Nagar has changed

The guideline value for Sumangali Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 70 per sq.ft. This increased significantly to Rs 350 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value adjusted down to Rs 234 per sq.ft, a decrease of 33%. The value then increased to Rs 350 per sq.ft in 2023, maintaining the same figure in the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. The overall change from 2007 to 2024 shows a remarkable increase of 400%, reflecting the current guideline value of Rs 350 per sq.ft.

Guideline values in Perinjampakkam

In Perinjampakkam, 18 streets under the Sriperumpudur SRO have a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft, with a median value of Rs 150 per sq.ft. Sumangali Nagar's 2024 figure is above this median.

• Subham Avenue II: Rs 150 per sq.ft (2024)
• Subam Avenue I: Rs 150 per sq.ft (2024)
• Rajiv Nagar: Rs 150 per sq.ft (2024)
• M.G.R.Nagar: Rs 100 per sq.ft (2024)
• M.G.R.Cross Street: Rs 100 per sq.ft (2024)
• Krishna 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 rate of Rs 350 per sq.ft, the guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to 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. You can use the stamp duty and registration fee calculator for more details.

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 more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perinjampakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the necessary duties and fees. This ensures that the transaction is aligned with the official valuation set by the Registration Department.

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 is the land classification for Sumangali Nagar?

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

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. This ensures that the fees reflect the official valuation set by the Registration Department.