Guideline Value for SOWDEESHWARI NAGAR 2ND MAIN ROAD

Sowdeeshwari Nagar 2nd Main Road guideline value

The current guideline value of Sowdeeshwari Nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Okkiyamthuraipakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sowdeeshwari Nagar 2nd Main Road has changed

The guideline value for Sowdeeshwari Nagar 2nd Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value rebounded significantly in the subsequent revisions, with the 2023 revision increasing it to Rs 3,000 per sq.ft, followed by the current 2024 revision at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 3,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, reaching the current rate of Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value for Sowdeeshwari Nagar 2nd Main Road.

• Sowdeeshwari Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 1st Main Road: Rs 3,900 per sq.ft (2024)
• Sowdeeshwari Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar Annex (Creek Street): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sowdeeshwari Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 precise calculations.

Which Sub Registrar Office covers Sowdeeshwari Nagar 2nd Main Road?

The Sub Registrar Office that covers Sowdeeshwari Nagar 2nd Main Road 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 Okkiyamthuraipakkam

When buying or selling property in Okkiyamthuraipakkam, the guideline value is a crucial factor in determining the stamp duty and registration fees. This value is used by the registration department to assess the charges applicable during the property transaction.

It is essential to understand that the guideline value serves as a benchmark for property transactions, ensuring that the property is registered at a value that reflects the current market conditions as per the government regulations.

Frequently asked questions

What is the current guideline value of Sowdeeshwari Nagar 2nd Main Road?

The current guideline value of Sowdeeshwari Nagar 2nd Main Road is Rs 3,300 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 currently stands at Rs 3,300 per sq.ft in 2024.

What is the land classification for Sowdeeshwari Nagar 2nd Main Road?

The land classification for Sowdeeshwari Nagar 2nd Main Road is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Sowdeeshwari Nagar 2nd Main Road?

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