Guideline Value for Sushil Nagar

Sushil Nagar guideline value

The current guideline value of Sushil Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. Sushil Nagar is located in Ponmar village under the Gooduvancheri SRO, with a land classification of Residential Special Type - II.

How the guideline value of Sushil Nagar has changed

The guideline value for Sushil Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a remarkable rise of 900%. However, the 2017 revision saw a decrease to Rs 670 per sq.ft, a drop of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 900%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Ponmar

Currently, there are no specific village figures provided for Ponmar. Sushil Nagar is one of the streets under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Sushil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sushil Nagar?

The Sub Registrar Office that covers Sushil Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

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

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sushil Nagar?

The current guideline value of Sushil Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023.

What is the land classification for Sushil Nagar?

Sushil Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated in Sushil Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a plot valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000 at 7% and a registration fee of Rs 20,000 at 2%, totaling Rs 90,000.