Guideline Value for SOWRASHTRA NAGAR 10TH STREET

Sowrashtra Nagar 10th Street guideline value

The current guideline value of Sowrashtra Nagar 10th Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Sowrashtra Nagar 10th Street has changed

The guideline value for Sowrashtra Nagar 10th Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 1,300 per sq.ft, which increased to Rs 1,650 per sq.ft in 2007, marking a 27% rise. The value then jumped significantly to Rs 6,500 per sq.ft in 2012, a remarkable increase of 294%. However, it decreased to Rs 4,355 per sq.ft in 2017, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is an increase of 63% from the 2017 figure.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 446%. It is important to note that the register has no figures for the years 2023 and 2002 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median of Rs 5,800 per sq.ft. The guideline value of Sowrashtra Nagar 10th Street is above this median.

• Sowrashtra Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Sowrashtra Nagar 2nd Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 3rd Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 4th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 5th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 6th Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sowrashtra Nagar 10th Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 Sowrashtra Nagar 10th Street?

The Sub Registrar Office that covers Sowrashtra Nagar 10th Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the higher value between the guideline value and the actual sale price is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sowrashtra Nagar 10th Street?

The current guideline value of Sowrashtra Nagar 10th Street is Rs 7,100 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 1,300 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 446% over the years.

What is the land classification of Sowrashtra Nagar 10th Street?

Sowrashtra Nagar 10th Street is classified as Residential Special Type - II.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Sowrashtra Nagar 10th Street?

Stamp duty is calculated based on the higher value between the guideline value and the actual sale price. For example, for a property with a guideline value of Rs 71,00,000, the stamp duty would be Rs 4,97,000 at 7%.