Guideline Value for SOWNDAREESWARAR KOIL STREET

Sowndareeswarar Koil Street guideline value

The current guideline value of Sowndareeswarar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sowndareeswarar Koil Street has changed

The guideline value for Sowndareeswarar Koil Street has seen several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 766 per sq.ft in 2003, marking a 25% rise. The value further increased to Rs 1,300 per sq.ft in 2007, reflecting a 70% change. By 2012, the guideline value rose to Rs 3,000 per sq.ft, which was a significant increase of 131% from the previous revision. However, this value dropped to Rs 2,010 per sq.ft in 2017, indicating a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then it increased by 10% to reach the current value of Rs 3,300 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 439% for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Sowndareeswarar Koil Street's 2024 figure below that median.

• Sembada Street: Rs 4,400 per sq.ft (2024)
• Subramania Mudali Street: Rs 4,950 per sq.ft (2024)
• Subramania Swamy Koil Street: Rs 4,950 per sq.ft (2024)
• Sundaraswarar Koil 1st Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil St (A) Sowndares Warar Koil Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sowndareeswarar Koil Street

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 more detailed calculations.

Which Sub Registrar Office covers Sowndareeswarar Koil Street?

The Sub Registrar Office that covers Sowndareeswarar Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Saidapet, this value is used to calculate the stamp duty and registration fees, which are mandatory for legal transfer of ownership.

It is crucial for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of property transactions. Ensuring that the sale price meets or exceeds the guideline value is necessary for proper registration of the property.

Frequently asked questions

What is the current guideline value of Sowndareeswarar Koil Street?

The current guideline value of Sowndareeswarar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 439%.

What is the median guideline value for streets in Saidapet?

The median guideline value for streets in Saidapet is Rs 4,400 per sq.ft. Sowndareeswarar Koil Street's 2024 guideline value is below this median.

What are the stamp duty and registration fees for property in Sowndareeswarar Koil Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Sowndareeswarar Koil Street?

The Chennai South Joint II Sub Registrar Office handles the registration for Sowndareeswarar Koil Street. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.