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 area is located in Somangalam_B village under the Sriperumpudur SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Thoiba Garden - II has changed

The guideline value for Thoiba Garden - II has seen several revisions over the years. In 2017, the value was set at Rs 167 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 250 per sq.ft. The most recent revision in 2024 maintained the same value of Rs 250 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 50%. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 50% as well. For the years 2002, 2003, 2007, and 2012, the register has no figure for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the guideline value of Thoiba Garden - II.

• 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)
• Thendral Nagar: Rs 500 per sq.ft (2024)
• Thangam Nagar - III Extension: Rs 250 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 would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thoiba Garden - II?

The Sub Registrar Office covering 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 details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Somangalam_B. It serves as a basis for calculating stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

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

Frequently asked questions

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

The current guideline value of 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 from 2023 to 2024, with a 50% increase from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Thoiba Garden - II?

Thoiba Garden - II is classified as Residential Class II Type - I, which is relevant for determining the guideline value and applicable regulations.

Where can I find the Sub Registrar Office for Thoiba Garden - II?

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

How is the stamp duty calculated for properties in Thoiba Garden - II?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 at a rate of 7%.