Guideline Value for SOWRNAMBIGAI 3RD STREET

Sowrnambigai 3rd Street guideline value

The current guideline value of Sowrnambigai 3rd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Sowrnambigai 3rd Street has changed

The guideline value for Sowrnambigai 3rd Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 3,200 per sq.ft. This figure decreased to Rs 2,144 per sq.ft in 2017. However, the value saw a significant increase to Rs 3,200 per sq.ft in 2023, followed by a further increase to the current rate of Rs 3,520 per sq.ft in 2024. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it saw a 10% rise. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The fluctuations in these values reflect the changes in the real estate landscape over the years.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 4,620 per sq.ft, placing Sowrnambigai 3rd Street's 2024 figure below this median.

• Sowrnambigai 2nd Street: Rs 3,520 per sq.ft (2024)
• Sowrnambigai Street: Rs 3,520 per sq.ft (2024)
• Sowrnambigai 1st Street: Rs 3,520 per sq.ft (2024)
• Shanmuga Raja Street: Rs 3,520 per sq.ft (2024)
• Seven Hill Avenue: Rs 4,620 per sq.ft (2024)
• Sathya Nagar Ist Street: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Sowrnambigai 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sowrnambigai 3rd Street?

The Sub Registrar Office that covers Sowrnambigai 3rd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher value between the guideline value and the actual sale price, ensuring that the transaction is recorded accurately and fairly.

Frequently asked questions

What is the current guideline value of Sowrnambigai 3rd Street?

The current guideline value of Sowrnambigai 3rd Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024. The value was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012.

What is the land classification for Sowrnambigai 3rd Street?

Sowrnambigai 3rd Street falls under the land classification of Residential Class III Type - I.

Where can I find the registration office for Sowrnambigai 3rd Street?

The registration office for Sowrnambigai 3rd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Sowrnambigai 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 35,20,000, the stamp duty at 7% would be Rs 2,46,400.