Guideline Value for Sutha Nagar

Sutha Nagar guideline value

The current guideline value of Sutha Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sutha Nagar has changed

Over the years, the guideline value for Sutha Nagar has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,900 per sq.ft in the 2024 revision. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which is the same as the current value for Sutha Nagar.

• Swamy Nagar: Rs 1,600 per sq.ft (2024)
• Subramani Nagar Extn: Rs 1,900 per sq.ft (2024)
• Subramani Nagar Anex: Rs 1,900 per sq.ft (2024)
• Subramani Nagar: Rs 1,900 per sq.ft (2024)
• Thangavel Nagar: Rs 1,900 per sq.ft (2024)
• Subash Nagar Extention: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sutha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost Rs 1,71,000. 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 Sutha Nagar?

Sutha Nagar falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puthagaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is fairly documented.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sutha Nagar?

The current guideline value of Sutha Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Sutha Nagar?

Sutha Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Sutha Nagar?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office covers Sutha Nagar?

The Ambattur Sub Registrar Office covers Sutha Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.