Guideline Value for SOWRASHTRA NAGAR 3RD STREET

Sowrashtra Nagar 3rd Street guideline value

The current guideline value of Sowrashtra Nagar 3rd Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO with a land classification of Residential Special Type - II.

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

The guideline value for Sowrashtra Nagar 3rd Street has seen significant changes over the years. In 2002, the guideline value was Rs 791 per sq.ft, which increased to Rs 1,300 per sq.ft in 2003, marking a 64% rise. The value then rose to Rs 1,650 per sq.ft in 2007, reflecting a 27% increase. By 2012, the value surged to Rs 6,500 per sq.ft, a remarkable 294% increase. However, from 2012 to 2017, the value dropped to Rs 4,355 per sq.ft, indicating a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a 63% increase from the 2017 figure. Notably, there is no figure available for this street in the 2023 revision.

Guideline values in Puliyur

In Puliyur, 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 for Sowrashtra Nagar 3rd Street is above this median, indicating its relative value in the area.

• Sowrashtra Nagar 2nd Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 4th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 1st Street: Rs 8,800 per sq.ft (2024)
• Sowrashtra Nagar 5th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 10th 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total 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 cost for these fees to Rs 6,39,000. 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 precise calculations.

Which Sub Registrar Office covers Sowrashtra Nagar 3rd Street?

The Sub Registrar Office that covers Sowrashtra Nagar 3rd 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 plays a crucial role in the registration process of property transactions in Puliyur. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area.

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

Frequently asked questions

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

The current guideline value of Sowrashtra Nagar 3rd 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 791 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 798% over this period.

What are the other guideline values in Puliyur?

In Puliyur, the guideline values for other streets range from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Sowrashtra Nagar 3rd Street's value is above this median.

What fees are associated with buying property in Sowrashtra Nagar 3rd Street?

When buying property in Sowrashtra Nagar 3rd Street, you will incur a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sowrashtra Nagar 3rd Street?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covers Sowrashtra Nagar 3rd Street.