Guideline Value for Teacher Sumangali Nagar

Teacher Sumangali Nagar guideline value

The current guideline value for Teacher Sumangali Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village, under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Teacher Sumangali Nagar has changed

Over the years, the guideline value for Teacher Sumangali Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 205 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a substantial rise of 241%. However, between 2012 and 2017, the value decreased to Rs 469 per sq.ft, reflecting a decline of 33%. From 2017 to 2023, the value increased to Rs 700 per sq.ft, which is a rise of 49%. Notably, the guideline value has remained unchanged at Rs 700 per sq.ft from 2023 to 2024.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 241%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which is the same as the guideline value for Teacher Sumangali Nagar.

• Tamil Issai Nagar Part-I: Rs 700 per sq.ft (2024)
• Swathi Nagar: Rs 700 per sq.ft (2024)
• Thangappapuram: Rs 700 per sq.ft (2024)
• The Central Govt Staff Cooperative Nagar: Rs 500 per sq.ft (2024)
• Suka Dev Residency: Rs 500 per sq.ft (2024)
• Subamangala Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Sumangali Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 more details.

Which Sub Registrar Office covers Teacher Sumangali Nagar?

The Sub Registrar Office that covers Teacher Sumangali Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Perumattu Nellore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it is used to calculate the applicable taxes. Buyers should ensure that the transaction value is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Teacher Sumangali Nagar?

The current guideline value of Teacher Sumangali Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 205 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft since 2023.

What is the stamp duty for properties in Teacher Sumangali Nagar?

The stamp duty for properties in Teacher Sumangali Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000.

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

The Sub Registrar Office for Teacher Sumangali Nagar is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II SRO.

What is the land classification for Teacher Sumangali Nagar?

Teacher Sumangali Nagar is classified as Residential Special Type - II, which influences its guideline value and property transactions.