Guideline Value for SOWRASHTRA NAGAR 6TH STREET

Sowrashtra Nagar 6th Street guideline value

The current guideline value of Sowrashtra Nagar 6th Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the jurisdiction of the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Sowrashtra Nagar 6th Street has changed

The guideline value for Sowrashtra Nagar 6th Street has undergone several revisions over the years. In 2002, the value was Rs 900 per sq.ft, which increased to Rs 1,300 per sq.ft in 2003, marking a rise of 44%. The value then saw another increase to Rs 1,650 per sq.ft in 2007, a change of 27%. Following this, the 2012 revision set the value at Rs 6,500 per sq.ft, reflecting a significant increase of 294%. However, the value dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 has brought the guideline value to Rs 7,100 per sq.ft, representing an increase of 63% from the 2017 figure. Notably, there is no figure for this street in the 2023 revision.

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. The median value for these streets is Rs 5,800 per sq.ft, placing Sowrashtra Nagar 6th Street's 2024 figure above this median.

• Sowrashtra Nagar 5th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 7th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 4th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 8th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 3rd Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 9th Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sowrashtra Nagar 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. Please 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 details.

Which Sub Registrar Office covers Sowrashtra Nagar 6th Street?

The Sub Registrar Office that covers Sowrashtra Nagar 6th 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 when buying or selling property in Puliyur. It serves as a reference point for determining the stamp duty and registration fees, which are mandatory during the property transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sowrashtra Nagar 6th Street?

The current guideline value of Sowrashtra Nagar 6th 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 900 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 689% over the years.

What is the land classification for Sowrashtra Nagar 6th Street?

The land classification for Sowrashtra Nagar 6th Street is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in this area?

For a property 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, totaling Rs 6,39,000.

Which office handles the registration for Sowrashtra Nagar 6th Street?

The Kodambakkam Sub Registrar Office handles the registration for Sowrashtra Nagar 6th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.