Guideline Value for Sumathi Ammal Nagar

Sumathi Ammal Nagar guideline value

The current guideline value of Sumathi Ammal Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Alavoor village under the Walajabad SRO, classified as Residential Class I Type - I.

How the guideline value of Sumathi Ammal Nagar has changed

Since the 2012 revision, the guideline value for Sumathi Ammal Nagar has seen several changes. In 2012, the value was Rs 200 per sq.ft, which then decreased to Rs 134 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 124% to Rs 300 per sq.ft. The 2023 revision maintained this figure, and the 2024 revision also holds the guideline value steady at Rs 300 per sq.ft, showing no change from the previous year.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 50%.

Guideline values in Alavoor

In Alavoor village, there are seven streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 600 per sq.ft, with a median value of Rs 300 per sq.ft. Sumathi Ammal Nagar's 2024 figure aligns with this median value.

• Sumathi Ammal Nagar Ex-1: Rs 300 per sq.ft (2024)
• S.B.K Avenue: Rs 600 per sq.ft (2024)
• Lss Sai Nagar: Rs 400 per sq.ft (2024)
• Ishwaryam Garden Sumathi Ammal Nagar Ext-2: Rs 300 per sq.ft (2024)
• Dr.A.P.J.Abdul Kalam Nagar-Phase-I: Rs 600 per sq.ft (2024)
• Classic Avenue: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sumathi Ammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sumathi Ammal Nagar?

The Sub Registrar Office that covers Sumathi Ammal Nagar 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 Alavoor

The guideline value is a crucial factor in the registration process when buying or selling property in Alavoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Sumathi Ammal Nagar?

The current guideline value of Sumathi Ammal Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023 and remained the same in 2024.

What is the land classification of Sumathi Ammal Nagar?

Sumathi Ammal Nagar is classified as Residential Class I Type - I.

Where is the Walajabad Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Sumathi Ammal Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.