Guideline Value for SOWRASHTRA NAGAR MAIN ROAD

Sowrashtra Nagar Main Road guideline value

The current guideline value of Sowrashtra Nagar Main Road is Rs 7,100 per sq.ft, effective from 1 July 2024. This road is located in Puliyur village under the Kodambakkam Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Sowrashtra Nagar Main Road has changed

The guideline value for Sowrashtra Nagar Main Road has seen several revisions over the years. In 2002, the value was Rs 839 per sq.ft, which increased to Rs 1,300 per sq.ft in 2003, marking a change of +55%. The value then rose to Rs 1,650 per sq.ft in 2007, a significant increase of +27%. Following this, the 2012 revision set the value at Rs 6,500 per sq.ft, reflecting a dramatic rise of +294% from the previous figure.

The most recent revision in 2024 has set the guideline value at Rs 7,100 per sq.ft, an increase of +9% from 2012. Notably, there are no figures available for the years 2017 and 2023 in the register for this street.

Guideline values in Puliyur

In Puliyur, 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 value for these streets is Rs 5,800 per sq.ft, making the current guideline value of Sowrashtra Nagar Main Road above this median.

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

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, resulting in a total of Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sowrashtra Nagar Main Road?

The Kodambakkam Sub Registrar Office covers Sowrashtra Nagar Main Road, 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 during the registration of property transactions in Puliyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value is used to determine the minimum value for registration. This means that even if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Sowrashtra Nagar Main Road?

The current guideline value of Sowrashtra Nagar Main Road 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 839 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +746% across the years.

Are there any years without a guideline value for this street?

Yes, the register has no figures for the years 2017 and 2023 for Sowrashtra Nagar Main Road.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 71,00,000, the total fees would amount to Rs 6,39,000.

Where is the Sub Registrar Office located for this area?

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