Guideline Value for SOWDEESHWARI NAGAR 2ND STREET

Sowdeeshwari Nagar 2nd Street guideline value

The current guideline value of Sowdeeshwari Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sowdeeshwari Nagar 2nd Street has changed

Over the years, the guideline value for Sowdeeshwari Nagar 2nd Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a reduction of 33%. However, the value rose significantly to Rs 3,000 per sq.ft in the 2023 revision, and then increased by 10% to reach the current rate of Rs 3,300 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Sowdeeshwari Nagar 2nd Street.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 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 Sowdeeshwari Nagar 2nd Street?

The Sub Registrar Office that covers Sowdeeshwari Nagar 2nd Street 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

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the transaction is compliant with legal requirements. It also helps in assessing the financial obligations involved in property transactions, making it a key factor in the buying and selling process.

Frequently asked questions

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

The current guideline value of Sowdeeshwari Nagar 2nd Street 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a 49% increase from the previous revision in 2012.

What is the land classification for Sowdeeshwari Nagar 2nd Street?

Sowdeeshwari Nagar 2nd Street is classified as Residential Class II Type - I. This classification is important for determining the guideline value and other regulatory aspects of property transactions.

What are the registration fees based on the guideline value?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.

Which office handles the registration for Sowdeeshwari Nagar 2nd Street?

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