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Guideline Value

Corporate

Guideline Value for Soma Ramaswamy 3rd Lane

₹2700/sq.ft.

The guideline value for Soma Ramaswamy 3rd Lane in Siruvallur village (Sembiam SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Siruvallur

Village

Sembiam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1000 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

5, Papermills Road, Sembiam, Chennai - 600011.
044-26702002
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Soma Ramaswamy 3rd Lane

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Soma Ramaswamy 3rd Lane guideline value

The current guideline value of Soma Ramaswamy 3rd Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village under the Sembiam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Soma Ramaswamy 3rd Lane has changed

Looking back at the revisions, the guideline value for this street has seen significant changes over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it then dropped to Rs 1,675 per sq.ft in 2017. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,700 per sq.ft in the 2024 revision.

From 2017 to 2023, the increase was 49%, and from 2023 to 2024, there was an 8% rise. Overall, from 2007 to 2024, the guideline value has increased by 170%. 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, with a median value of Rs 1,900 per sq.ft. The guideline value for Soma Ramaswamy 3rd Lane is above this median, indicating its higher valuation compared to many other streets in the village.

Stamp duty and registration fee for property in Soma Ramaswamy 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Soma Ramaswamy 3rd Lane?

The Sub Registrar Office that covers Soma Ramaswamy 3rd Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Siruvallur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations and to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value serves as a reference point for the government to assess the value of the property. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Soma Ramaswamy 3rd Lane?

The current guideline value of Soma Ramaswamy 3rd Lane is Rs 2,700 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 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with various increases and decreases in between. Notably, there was a 49% increase from 2017 to 2023 and an 8% increase from 2023 to 2024.

What is the land classification for this street?

Soma Ramaswamy 3rd Lane falls under the Residential Class II Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Soma Ramaswamy 3rd Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.