Guideline Value for SOWNDARAPANDIYANAR NAGAR

Sowndarapandiyanar Nagar guideline value

The current guideline value of Sowndarapandiyanar Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024. This locality is situated in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Mixed Special Type - II.

How the guideline value of Sowndarapandiyanar Nagar has changed

Since the 2002 revision, the guideline value for Sowndarapandiyanar Nagar has seen significant changes. In 2002, the guideline value was Rs 412 per sq.ft, which increased to Rs 484 per sq.ft in 2003, marking a rise of 17%. The value further increased to Rs 900 per sq.ft in 2007, representing an 86% increase. The 2012 revision saw the value rise to Rs 3,400 per sq.ft, an increase of 278%. However, in 2017, the value dropped to Rs 2,278 per sq.ft, reflecting a decrease of 33%. The guideline value then rose to Rs 3,400 per sq.ft in 2023, and finally to Rs 3,700 per sq.ft in 2024, a change of 9%.

Overall, from 2002 to 2024, the guideline value has increased by 798%. The register has no figures for the years not mentioned in this summary.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Sowndarapandiyanar Nagar's 2024 figure above this median.

• S.P.Koil Street: Rs 3,300 per sq.ft (2024)
• South Prakaram Street: Rs 3,700 per sq.ft (2024)
• South Mada Steet: Rs 3,700 per sq.ft (2024)
• Sornam Nagar: Rs 3,300 per sq.ft (2024)
• Somu Chetty Street: Rs 3,300 per sq.ft (2024)
• Somasundaram Nagar: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sowndarapandiyanar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, resulting in a total of Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sowndarapandiyanar Nagar?

The Sub Registrar Office that covers Sowndarapandiyanar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

When buying or selling property in Thiruvottiyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to calculate these fees, ensuring that they are aligned with the official valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Accurate knowledge of the guideline value can help in planning the financial aspects of property transactions effectively.

Frequently asked questions

What is the current guideline value of Sowndarapandiyanar Nagar?

The current guideline value of Sowndarapandiyanar Nagar is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 412 per sq.ft in 2002 to Rs 3,700 per sq.ft in 2024, reflecting an overall increase of 798% over this period.

What is the land classification of Sowndarapandiyanar Nagar?

Sowndarapandiyanar Nagar is classified as Mixed Special Type - II, which indicates its zoning and usage regulations.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated in Sowndarapandiyanar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 37,00,000 would incur a stamp duty of Rs 2,59,000 at a rate of 7%.