Guideline Value for SOWDEESHWARI NAGAR 3RD STREET

Sowdeeshwari Nagar 3rd Street guideline value

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

How the guideline value of Sowdeeshwari Nagar 3rd Street has changed

The guideline value for Sowdeeshwari Nagar 3rd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

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 guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the 2024 guideline value for Sowdeeshwari Nagar 3rd Street.

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

Stamp duty and registration fee for property in Sowdeeshwari Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sowdeeshwari Nagar 3rd Street?

The Sub Registrar Office that covers Sowdeeshwari Nagar 3rd 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 is a critical factor in property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees payable during the registration of property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with the regulations set by the registration department.

When purchasing property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sowdeeshwari Nagar 3rd Street?

The current guideline value of Sowdeeshwari Nagar 3rd 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Sowdeeshwari Nagar 3rd Street?

The land classification for Sowdeeshwari Nagar 3rd Street is Residential Class II Type - I.

Where is the Neelankarai Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Sowdeeshwari Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the stamp duty would be Rs 2,31,000.