Guideline Value for Thoiba Garden - II

Thoiba Garden - II guideline value

The current guideline value of Thoiba Garden - II is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Somangalam village, under the Sriperumpudur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thoiba Garden - II has changed

Over the years, the guideline value of Thoiba Garden - II has seen several revisions. The 2012 revision set the guideline value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft. Following this, the 2023 revision brought it back to Rs 250 per sq.ft, and the current 2024 revision maintains this value at Rs 250 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the guideline value increased by 50%. Overall, from 2012 to 2024, there has been no change in the guideline value.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Thoiba Garden - II is below this median.

• Thoiba Garden I: Rs 250 per sq.ft (2024)
• Thoiba Garden: Rs 250 per sq.ft (2024)
• Thiruvallur Road: Rs 200 per sq.ft (2024)
• Thillai Nagar: Rs 200 per sq.ft (2024)
• Vanavil Shiva Garden: Rs 400 per sq.ft (2024)
• Thendral Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Thoiba Garden - II

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total fees Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thoiba Garden - II?

The Sub Registrar Office that covers Thoiba Garden - II 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 Somangalam

The guideline value is a crucial factor during the registration of property in Somangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value for Thoiba Garden - II?

The current guideline value for Thoiba Garden - II is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2012, 2023, and 2024, while it decreased to Rs 167 per sq.ft in 2017. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Thoiba Garden - II?

Thoiba Garden - II is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Thoiba Garden - II?

For a 1,000 sq.ft plot at the guideline value of Rs 250 per sq.ft, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Where is the Sub Registrar Office for Thoiba Garden - II located?

The Sub Registrar Office for Thoiba Garden - II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.