Guideline Value for SOWRASHTRA NAGAR 9TH STREET

Sowrashtra Nagar 9th Street guideline value

The current guideline value of Sowrashtra Nagar 9th 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 it falls under the Residential Special Type - II land classification.

How the guideline value of Sowrashtra Nagar 9th Street has changed

The guideline value for Sowrashtra Nagar 9th Street has seen significant revisions over the years. In 2002, the guideline value was Rs 870 per sq.ft, which increased to Rs 1,300 per sq.ft in 2003, marking a change of +49%. By 2007, the value rose to Rs 2,795 per sq.ft, reflecting a substantial increase of +115%. The next revision in 2012 maintained the value at Rs 6,500 per sq.ft, showing no change from the previous year. In 2023, the guideline value again remained at Rs 6,500 per sq.ft, and then in 2024, it increased to Rs 7,100 per sq.ft, resulting in a change of +9%.

It is important to note that the register has no figure for this street for the year 2017. Overall, from 2002 to 2024, the guideline value has increased by +716%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Sowrashtra Nagar 9th Street's 2024 figure above this median.

• Sowrashtra Nagar 8th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar Main Road: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 7th Street: Rs 7,100 per sq.ft (2024)
• Sowrashtra Nagar 6th Street: 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 9th 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 cost for these fees to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sowrashtra Nagar 9th Street?

The Sub Registrar Office that covers Sowrashtra Nagar 9th 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 details.

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

The guideline value plays a crucial role in the registration of property transactions in Puliyur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the transaction is legally compliant and that the appropriate taxes are paid. This value serves as a benchmark for property transactions within the region.

Frequently asked questions

What is the current guideline value of Sowrashtra Nagar 9th Street?

The current guideline value of Sowrashtra Nagar 9th 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 870 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of +716% over the years.

What was the guideline value in 2012?

The guideline value for Sowrashtra Nagar 9th Street in 2012 was Rs 6,500 per sq.ft, and it remained the same in 2023.

Which Sub Registrar Office covers this area?

The Kodambakkam Sub Registrar Office covers Sowrashtra Nagar 9th Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in this area?

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