Guideline Value for SOWMIYA NAGAR

Sowmiya Nagar guideline value

The current guideline value of Sowmiya Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Sowmiya Nagar has changed

The guideline value for Sowmiya Nagar has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,742 per sq.ft, which increased to Rs 2,600 per sq.ft in the 2023 revision, marking a substantial rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 2,800 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Sowmiya Nagar is above this median.

• Soorapattu Main Road: Rs 2,300 per sq.ft (2024)
• Society Nagar: Rs 1,900 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Sri Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Sivaraj Street: Rs 1,100 per sq.ft (2024)
• Sri Lakshmi Amman Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sowmiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total 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, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sowmiya Nagar?

The Sub Registrar Office covering Sowmiya Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Kathirvedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transaction.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sowmiya Nagar?

The current guideline value of Sowmiya 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 1,742 per sq.ft in 2017 to Rs 2,600 per sq.ft in 2023, and then to Rs 2,800 per sq.ft in 2024, reflecting significant increases over the years.

What is the land classification for Sowmiya Nagar?

The land classification for Sowmiya Nagar is Mixed Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at the current guideline value of Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Sowmiya Nagar?

The Ambattur Sub Registrar Office covers Sowmiya Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.