Guideline Value for SOMASUNDARAM NAGAR MAIN ROAD

Somasundaram Nagar Main Road guideline value

The current guideline value of Somasundaram Nagar Main Road is Rs 3,200 per sq.ft, effective from 1 July 2024. This road is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Somasundaram Nagar Main Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 3,200 per sq.ft, an increase of 7% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Somasundaram Nagar Main Road's 2024 figure above this median.

• Somasundaram Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Somasundara Nagar: Rs 3,200 per sq.ft (2024)
• Slum Clearance Board Quarters: Rs 2,200 per sq.ft (2024)
• Siva Sakthi Vinayagar Koil Street: Rs 3,200 per sq.ft (2024)
• Sreenivasa Achary Street: Rs 4,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. Please note that the 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 details.

Which Sub Registrar Office covers Somasundaram Nagar Main Road?

The Sub Registrar Office that covers Somasundaram Nagar Main Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is used as a reference point for determining the value of property transactions in Perambur. When registering a property, the guideline value is essential for calculating stamp duty and registration fees.

It is important to note that the guideline value can influence the sale price of a property, as it provides a standard for buyers and sellers during negotiations. Buyers should ensure they are aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Somasundaram Nagar Main Road is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,200 per sq.ft in 2024.

What is the land classification of Somasundaram Nagar Main Road?

Somasundaram Nagar Main Road is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Somasundaram Nagar Main Road?

The Sub Registrar Office for Somasundaram Nagar Main Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Somasundaram Nagar Main Road?

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 guideline value, the stamp duty would be Rs 2,24,000.