Guideline Value for Soma Sundara Vinayagar Koil Street (Melpattadai)

Soma Sundara Vinayagar Koil Street (Melpattadai) guideline value

The current guideline value of Soma Sundara Vinayagar Koil Street (Melpattadai) is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Soma Sundara Vinayagar Koil Street (Melpattadai) has changed

The guideline value for this street has undergone several revisions over the years. In 2002, the guideline value was Rs 319 per sq.ft, which increased to Rs 346 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 700 per sq.ft in 2007, and then it further increased to Rs 3,200 per sq.ft in 2012. However, it dropped to Rs 2,144 per sq.ft in 2017. The value then rose to Rs 3,200 per sq.ft in 2023, before reaching the current value of Rs 3,500 per sq.ft in 2024.

Between the revisions, notable changes include a 102% increase from 2003 to 2007, a 357% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 997%. The register has no figures for the years not listed for this street.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Soma Sundara Vinayagar Koil Street (Melpattadai) is above this median.

• Somasundara Vinayagar Koil Street 3rd Lane: Rs 2,700 per sq.ft (2024)
• Somasundara Vinayagar Koil Street 2nd Lane: Rs 2,700 per sq.ft (2024)
• Somasundara Vinayagar Koil Street 1st Lane: Rs 2,700 per sq.ft (2024)
• Somu Gramani Street: Rs 2,700 per sq.ft (2024)
• Sivaprakasam Street: Rs 2,200 per sq.ft (2024)
• Sivapatham Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Soma Sundara Vinayagar Koil Street (Melpattadai)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, totaling Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Soma Sundara Vinayagar Koil Street (Melpattadai)?

The Sub Registrar Office that covers Soma Sundara Vinayagar Koil Street (Melpattadai) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Sembiam, as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that the guideline value serves as a reference point for the transaction, ensuring that the property is registered at a value that reflects the current market conditions.

When a property is sold, the guideline value is checked against the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is transparent and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Soma Sundara Vinayagar Koil Street (Melpattadai)?

The current guideline value of Soma Sundara Vinayagar Koil Street (Melpattadai) is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 319 per sq.ft in 2002 to Rs 3,500 per sq.ft in 2024, which is an overall increase of 997%.

What is the land classification for this street?

Soma Sundara Vinayagar Koil Street (Melpattadai) is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Where is the Sub Registrar Office located for this street?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Soma Sundara Vinayagar Koil Street (Melpattadai).