Guideline Value for SOUNTHARIYA NAGAR

Sounthariya Nagar guideline value

The current guideline value of Sounthariya Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sounthariya Nagar has changed

The guideline value for Sounthariya Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, at Rs 191 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 214% rise. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a 317% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, followed by the latest revision to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

There is no recorded figure for Sounthariya Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1366%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Sounthariya Nagar is below this median.

• Sri Jayandra Colony (Omr) (Kottivakkam Included): Rs 6,100 per sq.ft (2024)
• Shiva Vishnu Street: Rs 2,800 per sq.ft (2024)
• Sekizhar Street: Rs 2,800 per sq.ft (2024)
• School Street: Rs 3,300 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 2,800 per sq.ft (2024)
• Sathiyamurthy Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sounthariya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to 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, totaling Rs 2,52,000. It is important to note that 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 Sounthariya Nagar?

The Sub Registrar Office that covers Sounthariya Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is used to calculate the applicable duties, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sounthariya Nagar?

The current guideline value of Sounthariya Nagar 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 from Rs 191 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Sounthariya Nagar?

Sounthariya Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Sounthariya Nagar?

The Sub Registrar Office for Sounthariya Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Sounthariya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total duty of Rs 2,52,000.