Guideline Value for Thoiba Garden I

Thoiba Garden I guideline value

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

How the guideline value of Thoiba Garden I has changed

In the 2017 revision, the guideline value was set at Rs 167 per sq.ft. This value remained unchanged in the 2023 revision, which also recorded Rs 250 per sq.ft. The current 2024 revision has kept the guideline value at Rs 250 per sq.ft, resulting in a 50% increase from the 2017 revision to the 2024 revision.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The guideline value has seen no change from 2023 to 2024, with an overall increase of 50% from 2017 to 2024.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO, with a 2024 guideline value range from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Thoiba Garden I at this median value.

• Thoiba Garden: Rs 250 per sq.ft (2024)
• Thoiba Garden - II: 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 I

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, totaling Rs 22,500. 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 further calculations.

Which Sub Registrar Office covers Thoiba Garden I?

The Sub Registrar Office that covers Thoiba Garden I 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_B

The guideline value is a crucial factor in the registration process when buying or selling property in Somangalam_B. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared to 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 Thoiba Garden I?

The current guideline value of Thoiba Garden I is Rs 250 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased by 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in both 2023 and 2024. There were no changes in the values recorded for the years 2002, 2003, 2007, and 2012.

What is the classification of land in Thoiba Garden I?

Thoiba Garden I is classified as Residential Class II Type - I. This classification is important for determining the appropriate uses and regulations for the property.

Where can I find the registration office for Thoiba Garden I?

The registration office for Thoiba Garden I 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 I?

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