Guideline Value for SOWRASHTRA NAGAR 8TH STREET

Sowrashtra Nagar 8th Street guideline value

The current guideline value of Sowrashtra Nagar 8th 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 the land classification is Residential Special Type - II.

How the guideline value of Sowrashtra Nagar 8th Street has changed

The guideline value for Sowrashtra Nagar 8th Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 798 per sq.ft. This increased to Rs 1,300 per sq.ft in 2003, marking a change of +63%. In 2007, the value jumped significantly to Rs 1,650 per sq.ft, which is a +27% increase from the previous revision. The 2012 revision maintained the value at Rs 6,500 per sq.ft, and there is no figure for the year 2017. In 2023, the value remained at Rs 6,500 per sq.ft, before rising to Rs 7,100 per sq.ft in 2024, reflecting a +9% increase.

Overall, from 2002 to 2024, the guideline value has increased by +790%. The significant jump occurred between 2007 and 2012, where the value surged by +294%. Each revision illustrates the changing landscape of property values in this area.

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 is Rs 5,800 per sq.ft, placing Sowrashtra Nagar 8th Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Sowrashtra Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total 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, bringing the total 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 detailed calculations.

Which Sub Registrar Office covers Sowrashtra Nagar 8th Street?

The Sub Registrar Office that covers Sowrashtra Nagar 8th 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 critical factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling a property in Puliyur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are recorded accurately within the legal framework.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Sowrashtra Nagar 8th Street?

The current guideline value of Sowrashtra Nagar 8th 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 from Rs 798 per sq.ft to Rs 7,100 per sq.ft in 2024, representing an overall increase of +790%.

What is the median guideline value in Puliyur?

The median guideline value in Puliyur is Rs 5,800 per sq.ft, with Sowrashtra Nagar 8th Street's current value being above this median.

What are the stamp duty and registration fees for properties 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 registrations for Sowrashtra Nagar 8th Street?

The Kodambakkam Sub Registrar Office handles registrations for Sowrashtra Nagar 8th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.