Guideline Value for Soma Ramasamy 1st Street

Soma Ramasamy 1st Street guideline value

The current guideline value of Soma Ramasamy 1st Street in Siruvallur village, under the Sembiam SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Soma Ramasamy 1st Street has changed

The guideline value for Soma Ramasamy 1st Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it dropped to Rs 1,206 per sq.ft in the 2017 revision, before rising to Rs 1,800 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,900 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 reflects a 6% increase. Overall, from the 2007 revision to the current 2024 figure, the guideline value has risen by 90%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value is Rs 1,900 per sq.ft, which matches the guideline value for Soma Ramasamy 1st Street.

• Soma Ramasamy 2nd Street: Rs 1,900 per sq.ft (2024)
• Soma Ramasamy Main Road: Rs 1,900 per sq.ft (2024)
• Soma Ramaswamy 1st Lane: Rs 1,600 per sq.ft (2024)
• Soma Ramaswamy 2nd Lane: Rs 1,600 per sq.ft (2024)
• Soma Ramaswamy 3rd Lane: Rs 2,700 per sq.ft (2024)
• Sivagami Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Soma Ramasamy 1st Street

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

Which Sub Registrar Office covers Soma Ramasamy 1st Street?

The Soma Ramasamy 1st Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Siruvallur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value serves as a reference point for calculating the necessary fees. It is essential to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Soma Ramasamy 1st Street?

The current guideline value of Soma Ramasamy 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 1,900 per sq.ft in 2024, reflecting a total increase of 90% over this period.

What is the land classification of Soma Ramasamy 1st Street?

Soma Ramasamy 1st Street is classified as Residential Class III Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Siruvallur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 at a rate of 7%.