Guideline Value for SOKKALINGAM NAGAR MAIN ROAD

Sokkalingam Nagar Main Road guideline value

The current guideline value of Sokkalingam Nagar Main Road is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Noombal village, under the jurisdiction of the Kunrathur SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Sokkalingam Nagar Main Road has changed

According to the guideline value register, the revisions for Sokkalingam Nagar Main Road began with no figures reported for the years 2002, 2003, 2007, 2012, and 2017. The first available figure is from the 2023 revision, which recorded a guideline value of Rs 2,200 per sq.ft. Following this, the 2024 revision increased the guideline value to Rs 2,420 per sq.ft, marking a change of +10% from the previous year.

The current guideline value reflects the latest revision, which is effective from 1 July 2024. The increase from Rs 2,200 to Rs 2,420 indicates a significant adjustment in the valuation for this street.

Guideline values in Noombal

Noombal village features a range of guideline values across its 164 streets, with values varying from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for the area is Rs 2,090 per sq.ft, positioning Sokkalingam Nagar Main Road above this median at Rs 2,420 per sq.ft.

• Sokkalingam Nagar Extention: Rs 2,420 per sq.ft (2024)
• Sokkalingam Nagar: Rs 2,420 per sq.ft (2024)
• Solar Estate: Rs 2,090 per sq.ft (2024)
• Soosaiya Nagar: Rs 2,090 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,090 per sq.ft (2024)
• Sri Balaji Nagar Adithi Avenue: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Sokkalingam Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sokkalingam Nagar Main Road?

The Sokkalingam Nagar Main Road falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Noombal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold, the guideline value is used to assess the fees, ensuring that they are based on a standardized valuation rather than fluctuating market prices. This helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sokkalingam Nagar Main Road?

The current guideline value of Sokkalingam Nagar Main Road is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sokkalingam Nagar Main Road has seen revisions, with the 2023 figure at Rs 2,200 per sq.ft and the 2024 figure increasing to Rs 2,420 per sq.ft, marking a +10% change.

What is the land classification for Sokkalingam Nagar Main Road?

The land classification for Sokkalingam Nagar Main Road is Commercial Class I Type - III.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Sokkalingam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would amount to Rs 1,69,400.