Guideline Value for SORNAMBIGAI STREET

Sornambigai Street guideline value

The current guideline value of Sornambigai Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Sornambigai Street has changed

The guideline value for Sornambigai Street has undergone several revisions over the years. The earliest recorded figure was Rs 561 per sq.ft in 2003, which increased to Rs 900 per sq.ft in 2007. Following this, the value saw a significant jump to Rs 3,500 per sq.ft in 2012, but then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has been set at Rs 3,800 per sq.ft in the 2024 revision. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 9%. The overall change from 2003 to 2024 reflects a substantial increase of 577% in the guideline value.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Sornambigai Street's 2024 figure is below this median.

• South Gangaiamman Koil 1st Cross Street, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 1st Lane, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 1st Street, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Gangaiamman Koil 2nd Lane, Choolaimedu: Rs 5,800 per sq.ft (2024)
• South Mada Street: Rs 5,300 per sq.ft (2024)
• South Sivan Koil Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sornambigai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, leading to a total of Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sornambigai Street?

The Sub Registrar Office that covers Sornambigai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that are payable at the time of the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sornambigai Street?

The current guideline value of Sornambigai Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 561 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 577% over this period.

What are the stamp duty rates applicable in Sornambigai Street?

The stamp duty rate applicable in Sornambigai Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sornambigai Street?

The Sub Registrar Office for Sornambigai Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Sornambigai Street?

Sornambigai Street is classified as Residential Class IV Type - III, indicating its designation for residential use within the area.