Guideline Value for PORUR SOMASUNDARAM STREET

Porur Somasundaram Street guideline value

The current guideline value of Porur Somasundaram Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Porur Somasundaram Street has changed

Over the years, the guideline value of Porur Somasundaram Street has seen several revisions. The earliest recorded figure is from 2003, which was Rs 2,157 per sq.ft. This value increased to Rs 3,000 per sq.ft in 2007, marking a growth of 39%. In 2012, the value rose significantly to Rs 7,500 per sq.ft, reflecting an increase of 150%. However, there was a notable decline to Rs 5,025 per sq.ft in 2017, a decrease of 33%. The value then surged to Rs 7,500 per sq.ft in 2023, before reaching the current value of Rs 8,300 per sq.ft in 2024, representing an increase of 11%.

It is important to note that there are no figures available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 285%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of Porur Somasundaram Street is below this median.

• Prakasam Ist Lane: Rs 6,600 per sq.ft (2024)
• Prakasam Ist Street: Rs 8,300 per sq.ft (2024)
• Prakasam Road: Rs 13,200 per sq.ft (2024)
• Prakasa Mudali Street: Rs 8,300 per sq.ft (2024)
• Prem Nagar Colony: Rs 6,600 per sq.ft (2024)
• Pudu Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Porur Somasundaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Porur Somasundaram Street?

The Sub Registrar Office that covers Porur Somasundaram Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value may influence the overall cost of the transaction.

When registering a property, the guideline value is used to calculate the applicable taxes and fees. It is essential for both buyers and sellers to understand these values to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Porur Somasundaram Street?

The current guideline value of Porur Somasundaram Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,157 per sq.ft in 2003 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 285% over the years.

What is the land classification for Porur Somasundaram Street?

The land classification for Porur Somasundaram Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Porur Somasundaram Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 83,00,000, the stamp duty at 7% would be Rs 5,81,000.