Guideline Value for SOMASUDARAM ROAD
₹2800/sq.ft.
The guideline value for Somasudaram Road in Enjambakkam village (Neelankarai SRO, Chennai zone) is Rs 2800 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 12% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.
Last updated:
Chennai
Zone
Enjambakkam
Village
Neelankarai
SRO
Residential Class II Type - I
History
| Period | Guideline Value |
|---|---|
| From 1-7-2024 | ₹2800 /sq.ft. |
| From 1-4-2023 | ₹2500 /sq.ft. |
| From 9-6-2017 To 31-3-2023 | ₹1675 /sq.ft. |
| From 1-4-2012 To 8-6-2017 | ₹2500 /sq.ft. |
| From 1-8-2007 To 31-3-2012 | ₹500 /sq.ft. |
| From 1-4-2003 To 31-7-2007 | ₹150 /sq.ft. |
| From 1-4-2002 To 31-3-2003 | N/A |
Guideline Value Timeline
Guideline Value Comparison
SRO (Sub Registrar Office)
2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]
DRO (District Registrar Office)
Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]
DIG (Deputy Inspector General)
Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
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Somasudaram Road guideline value
The current guideline value of Somasudaram Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This road is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.
How the guideline value of Somasudaram Road has changed
The guideline value for Somasudaram Road has seen several revisions over the years. In 2003, the value was Rs 150 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The following revision in 2012 brought the value to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024. The register has no figure for this street in 2002.
From 2017 to 2023, there was a notable increase of 49%. The value jumped by 400% from 2007 to 2012, while the increase from 2003 to 2007 was 233%. The overall change from 2003 to 2024 represents a significant rise of 1,767%.
Guideline values in Enjambakkam
In Enjambakkam, there are 253 streets under the Neelankarai SRO with a guideline value for 2024 ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. Somasudaram Road's 2024 figure is above this median.
- Somasudaram Street: Rs 2,800 per sq.ft (2024)
- Spring Dale Road & Swastik Avenue: Rs 3,900 per sq.ft (2024)
- Sri Babuji Nagar: Rs 3,900 per sq.ft (2024)
- Sindhuri Garden: Rs 3,300 per sq.ft (2024)
- Shree Chaitanya: Rs 3,300 per sq.ft (2024)
- Sri Krishna Koil Road: Rs 2,200 per sq.ft (2024)
Stamp duty and registration fee for property in Somasudaram Road
For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. 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 Somasudaram Road?
The Sub Registrar Office that covers Somasudaram Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, visit find your SRO.
How the guideline value is used when you buy or sell in Enjambakkam
The guideline value is a crucial factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.
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 registration process is transparent and that the property is valued fairly according to the established guidelines.
Frequently asked questions
What is the current guideline value of Somasudaram Road?
The current guideline value of Somasudaram Road is Rs 2,800 per sq.ft, effective from 1 July 2024.
How has the guideline value changed over the years?
The guideline value has changed significantly, starting from Rs 150 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1,767% over this period.
What is the land classification for Somasudaram Road?
Somasudaram Road is classified as Residential Class II Type - I, indicating its suitability for residential development.
What are the stamp duty rates for property transactions?
The stamp duty for property transactions in Somasudaram Road is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.
Where is the Neelankarai Sub Registrar Office located?
The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.
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