Guideline Value for SOWRASHTRA NAGAR 5TH STREET

Sowrashtra Nagar 5th Street guideline value

The current guideline value of Sowrashtra Nagar 5th Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Sowrashtra Nagar 5th Street has changed

The guideline value for Sowrashtra Nagar 5th Street has seen significant changes over the years. In 2002, the guideline value was Rs 798 per sq.ft, which increased to Rs 1,300 per sq.ft in 2003, marking a 63% rise. By 2007, the value had further increased to Rs 1,650 per sq.ft, a growth of 27%. The value then jumped dramatically to Rs 6,500 per sq.ft in 2012, reflecting a 294% increase. However, from 2012 to 2017, there was a notable decline to Rs 4,355 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, representing a 63% increase from the 2017 figure.

It is important to note that there is no guideline value recorded for Sowrashtra Nagar 5th Street in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 790%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, placing Sowrashtra Nagar 5th Street's 2024 figure above that median.

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

Stamp duty and registration fee for property in Sowrashtra Nagar 5th 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, while 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 higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sowrashtra Nagar 5th Street?

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

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

The guideline value is a crucial factor in property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sowrashtra Nagar 5th Street?

The current guideline value of Sowrashtra Nagar 5th Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 798 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, an overall increase of 790%.

What is the land classification of Sowrashtra Nagar 5th Street?

Sowrashtra Nagar 5th Street is classified as Residential Special Type - II under the Kodambakkam SRO.

Where can I find the registration office for Sowrashtra Nagar 5th Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000.