Guideline Value for SOUNDARAJAN STREET

Soundarajan Street guideline value

The current guideline value of Soundarajan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO and is classified as Residential Class III Type - I.

How the guideline value of Soundarajan Street has changed

The guideline value for Soundarajan Street has undergone several revisions over the years. In 2002, the value was Rs 1,292 per sq.ft, which increased to Rs 1,733 per sq.ft in 2003, marking a change of +34%. Following this, the value rose to Rs 3,000 per sq.ft in 2007, reflecting an increase of +73%. The 2012 revision saw a decrease to Rs 6,000 per sq.ft, which was a drop of -33%. In 2017, the value was revised to Rs 4,020 per sq.ft, representing a +49% increase from the previous figure. The most recent revision in 2023 set the guideline value at Rs 6,000 per sq.ft, which then increased to Rs 6,600 per sq.ft in 2024, a change of +10%.

There are no figures available for the revisions in the years not listed. Overall, from 2002 to 2024, the guideline value has increased by +411%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, indicating that Soundarajan Street's 2024 figure is below this median.

• South Boag Road Mtb Scheme: Rs 7,700 per sq.ft (2024)
• South Boag Road (Southern Side Of Thiagaraya Road): Rs 14,300 per sq.ft (2024)
• South Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)
• Somasundaram Pillai Street: Rs 11,000 per sq.ft (2024)
• South West Boag Road: Rs 11,000 per sq.ft (2024)
• Solaiappan Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Soundarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Soundarajan Street?

The Sub Registrar Office that covers Soundarajan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to assess the applicable duties, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Soundarajan Street?

The current guideline value of Soundarajan Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,292 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of +411% over the years.

What is the registration office for Soundarajan Street?

The registration office for Soundarajan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Soundarajan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.

What is the land classification of Soundarajan Street?

Soundarajan Street is classified as Residential Class III Type - I, indicating its designation for residential purposes within the Tnagar area.