Guideline Value for SOUNDARYA NAGAR

Soundarya Nagar guideline value

The current guideline value of Soundarya Nagar, located in Moorai-1 village under the Avadi SRO, is Rs 360 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Soundarya Nagar has changed

The guideline value for Soundarya Nagar has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show a revision in 2023 at Rs 335 per sq.ft, which increased to Rs 360 per sq.ft in 2024, marking a change of +7%.

Prior to the 2023 revision, there are no recorded figures for the years mentioned. The 2024 revision reflects the current market conditions for this street within Moorai-1.

Guideline values in Moorai-1

Moorai-1 village has 13 streets that carry a 2024 guideline value, ranging from Rs 220 to Rs 550 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value of Soundarya Nagar is below this median.

• Sindhu Nagar Phase I: Rs 550 per sq.ft (2024)
• Shanmugam Nagar: Rs 550 per sq.ft (2024)
• Sri Swamy Vivekanda Nagar: Rs 550 per sq.ft (2024)
• Sathya Nagar: Rs 360 per sq.ft (2024)
• Vino Nagar: Rs 550 per sq.ft (2024)
• Lakshmi Garden: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Soundarya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 360 per sq.ft, the total guideline value amounts to Rs 3,60,000. The stamp duty at 7% would be Rs 25,200, and the registration fee at 2% would be Rs 7,200, leading to a total of Rs 32,400. It is important to note that 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 Soundarya Nagar?

The Sub Registrar Office that covers Soundarya Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Moorai-1

The guideline value is a crucial factor when registering property transactions in Moorai-1. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When buyers and sellers engage in a transaction, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation of properties. This value is used to calculate the necessary fees and taxes associated with property registration.

Frequently asked questions

What is the current guideline value of Soundarya Nagar?

The current guideline value of Soundarya Nagar is Rs 360 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2023 to Rs 360 per sq.ft in 2024, which is an increase of +7%. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Moorai-1?

Other streets in Moorai-1 have varying guideline values, with rates ranging from Rs 220 to Rs 550 per sq.ft. The median value for these streets is Rs 550 per sq.ft.

How is stamp duty calculated in Soundarya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 25,200.

Where is the Sub Registrar Office located for Soundarya Nagar?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.