Guideline Value for Society Nagar

Society Nagar guideline value

The current guideline value of Society Nagar, located in Kathirvedu village, under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Society Nagar has changed

Over the years, the guideline value of Society Nagar has seen significant changes. In 2007, the value was Rs 500 per sq.ft, which increased dramatically to Rs 1,800 per sq.ft in 2012, marking a 260% rise. However, this was followed by a decrease to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 1,800 per sq.ft in 2023, before reaching the current rate of Rs 1,900 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, there has been an increase of 280%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. Society Nagar's 2024 figure is above this median.

• Soorapattu Main Road: Rs 2,300 per sq.ft (2024)
• Sivaraj Street: Rs 1,100 per sq.ft (2024)
• Sowmiya Nagar: Rs 2,800 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Sri Balaji Nagar Extension: Rs 2,700 per sq.ft (2024)
• Sri Lakshmi Amman Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Society Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty, charged at 7%, would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, the total cost for these fees would be Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Society Nagar?

The Sub Registrar Office covering Society Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kathirvedu, as it determines the minimum price at which properties can be registered. When you buy or sell property, the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they are complying with legal requirements during the registration process. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Society Nagar?

The current guideline value of Society Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 280% over the years.

What is the land classification for Society Nagar?

Society Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Society Nagar?

Stamp duty in Society Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied.