Guideline Value for SOZHAN STREET

Sozhan Street guideline value

The current guideline value of Sozhan Street in Vengathur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Commercial Class I Type - III.

How the guideline value of Sozhan Street has changed

The guideline value for Sozhan Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 150 per sq.ft, which saw a significant increase to Rs 1,300 per sq.ft in the 2012 revision, marking an increase of 767%. However, in the 2017 revision, the value decreased to Rs 871 per sq.ft, a drop of 33%. The value then rose to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

There are no figures available for Sozhan Street for the years 2002 and 2003 in the register. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in the village is Rs 1,000 per sq.ft, and Sozhan Street's 2024 figure of Rs 1,300 per sq.ft is above this median.

• Siru Thondan Street: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar Phase-III: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar Phase-I: Rs 1,300 per sq.ft (2024)
• Shanmuga Padmavathi Nagar: Rs 1,300 per sq.ft (2024)
• Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part): Rs 2,000 per sq.ft (2024)
• Sriperumpudur Main Salai-II (Sampandanar Street Part To Sri Ganesh Mahal Kalyana Mandapam): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sozhan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please 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 Sozhan Street?

The Sub Registrar Office that covers Sozhan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Vengathur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property transaction occurs, the guideline value serves as a benchmark for calculating the applicable fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sozhan Street?

The current guideline value of Sozhan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, rising from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreasing to Rs 871 per sq.ft in 2017, and returning to Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification of Sozhan Street?

Sozhan Street is classified as Commercial Class I Type - III under the current guidelines.

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

Other streets in Vengathur with a guideline value of Rs 1,300 per sq.ft include Siru Thondan Street, Shanmuga Padmavathi Nagar Phase-III, Shanmuga Padmavathi Nagar Phase-I, and Shanmuga Padmavathi Nagar.

Where can I find the Sub Registrar Office for Sozhan Street?

The Sub Registrar Office for Sozhan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.