Guideline Value for SOKKALINGAM NAGAR

Sokkalingam Nagar guideline value

The current guideline value of Sokkalingam Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Sokkalingam Nagar has changed

The guideline value for Sokkalingam Nagar has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 2,200 per sq.ft, and it increased by 10% to Rs 2,420 per sq.ft in the 2024 revision.

This increase reflects the latest adjustment in the guideline value register, which indicates a significant change from the previous year. The 2024 figure is now above the median value for similar streets in Noombal, which is Rs 2,090 per sq.ft.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. Sokkalingam Nagar's 2024 guideline value of Rs 2,420 per sq.ft is above the median value of Rs 2,090 per sq.ft. The following are other streets in Noombal:

• Sokkalingam Nagar Extention: Rs 2,420 per sq.ft (2024)
• Sokkalingam Nagar Main Road: 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

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

Which Sub Registrar Office covers Sokkalingam Nagar?

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

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

The guideline value is a key factor in the registration of property transactions in Noombal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sokkalingam Nagar?

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

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 2,200 per sq.ft to Rs 2,420 per sq.ft, which is a 10% increase.

What is the land classification for Sokkalingam Nagar?

Sokkalingam Nagar is classified as Commercial Class I Type - III according to the guideline value register.

What are the guideline values for other streets in Noombal?

Other streets in Noombal have guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. For example, Sokkalingam Nagar Extention and Sokkalingam Nagar Main Road both have a guideline value of Rs 2,420 per sq.ft.

Where can I find the Sub Registrar Office for Sokkalingam Nagar?

The Sub Registrar Office covering Sokkalingam Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can also find more information online.