Guideline Value for SOMANATHA ESWARAR NAGAR

Somanatha Eswarar Nagar guideline value

The current guideline value of Somanatha Eswarar Nagar is Rs 102 per sq.ft, effective from 1 July 2024. This area is located in Veligaram village under the Pallipattu SRO, classified as Residential Class IV Type - I.

How the guideline value of Somanatha Eswarar Nagar has changed

The guideline value for Somanatha Eswarar Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 100 per sq.ft. This figure dropped to Rs 67 per sq.ft in the 2017 revision, marking a decrease of 33%. However, by the 2023 revision, the value increased to Rs 100 per sq.ft, and in the latest 2024 revision, it rose to Rs 102 per sq.ft, reflecting a 2% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 2%.

Guideline values in Veligaram

In Veligaram, six streets are listed under the Pallipattu SRO with a 2024 guideline value ranging from Rs 102 to Rs 200 per sq.ft. The median value for these streets is Rs 126 per sq.ft, placing Somanatha Eswarar Nagar's 2024 figure below that median.

• Sri Annamalaiyar Nagar: Rs 200 per sq.ft (2024)
• Sri Lakshmi Narasimma Nagar: Rs 102 per sq.ft (2024)
• Sri Thanigai Nagar: Rs 200 per sq.ft (2024)
• Right Choice Thirumala Garden: Rs 150 per sq.ft (2024)
• Hari Gold City: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Somanatha Eswarar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value amounts to Rs 1,02,000. The stamp duty at 7% would be Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total cost for these fees to Rs 9,180. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Somanatha Eswarar Nagar?

The Sub Registrar Office that covers Somanatha Eswarar Nagar is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Veligaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Somanatha Eswarar Nagar?

The current guideline value of Somanatha Eswarar Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 102 per sq.ft in 2024.

What is the median guideline value for streets in Veligaram?

The median guideline value for streets in Veligaram is Rs 126 per sq.ft, with Somanatha Eswarar Nagar's 2024 value being below this median.

What are the stamp duty and registration fees for properties in Somanatha Eswarar Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 9,180, which includes stamp duty and registration fees based on the guideline value.

Which office handles registrations for Somanatha Eswarar Nagar?

The Pallipattu Sub Registrar Office handles registrations for Somanatha Eswarar Nagar, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.