Guideline Value for SOWRASHTRA NAGAR 7TH STREET

Sowrashtra Nagar 7th Street guideline value

The current guideline value of Sowrashtra Nagar 7th 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 7th Street has changed

The guideline value for Sowrashtra Nagar 7th Street has undergone several revisions since 2002. The earliest recorded value was Rs 721 per sq.ft in 2002, which increased to Rs 1,300 per sq.ft in 2003, marking an increase of 80%. By 2007, the value surged to Rs 1,650 per sq.ft, reflecting a growth of 27%. The next revision in 2012 saw no change, maintaining the value at Rs 6,500 per sq.ft. In 2023, the value remained the same at Rs 6,500 per sq.ft, but in 2024, it rose to Rs 7,100 per sq.ft, indicating a change of 9% from the previous year.

It is important to note that the register has no figure for this street in 2017. Overall, from 2002 to 2024, the guideline value has increased by 885%.

Guideline values in Puliyur

In Puliyur village, 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 value for these streets is Rs 5,800 per sq.ft, placing Sowrashtra Nagar 7th Street above this median.

• Sowrashtra Nagar 6th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 8th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 5th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 9th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 4th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar Main Road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sowrashtra Nagar 7th Street

For a 1,000 sq.ft plot at the current rate, 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, making the total 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 7th Street?

The Sub Registrar Office that covers Sowrashtra Nagar 7th 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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is fairly assessed according to the established values in the area.

Frequently asked questions

What is the current guideline value of Sowrashtra Nagar 7th Street?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 721 per sq.ft to Rs 7,100 per sq.ft in 2024, representing an overall increase of 885%.

What are the other streets in Puliyur with the same guideline value?

Other streets in Puliyur that share the same guideline value of Rs 7,100 per sq.ft in 2024 include Sowrashtra Nagar 6th, 8th, 5th, 9th, 4th Streets, and Sowrashtra Nagar Main Road.

Where can I find the Sub Registrar Office for Sowrashtra Nagar 7th Street?

The Kodambakkam Sub Registrar Office covers Sowrashtra Nagar 7th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Sowrashtra Nagar 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 4,97,000.