Guideline Value for Soma Sundaram Mudali 2nd Street, Chennai 82

Soma Sundaram Mudali 2nd Street, Chennai 82 guideline value

The current guideline value of Soma Sundaram Mudali 2nd Street, Chennai 82 is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Soma Sundaram Mudali 2nd Street, Chennai 82 has changed

Looking at the historical revisions, the guideline value for this street has seen significant changes over the years. The 2007 revision set the value at Rs 2,400 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a rise of 108%. However, in 2017, the value dropped to Rs 3,350 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, and most recently, the 2024 revision established the current value at Rs 5,500 per sq.ft, a 10% increase from 2023.

It is important to note that there are no registered figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 129%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing the guideline value of Soma Sundaram Mudali 2nd Street, Chennai 82 above that median.

• Soma Sundaram Mudali Ist Street, Chennai 82: Rs 5,500 per sq.ft (2024)
• Somasundara Devar Ist Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 6th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 5th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 4th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 3rd Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Soma Sundaram Mudali 2nd Street, Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, and the registration fee, at 2%, would be Rs 1,10,000. Together, these fees total Rs 4,95,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Soma Sundaram Mudali 2nd Street, Chennai 82?

The Sub Registrar Office that covers Soma Sundaram Mudali 2nd Street, Chennai 82 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is registered at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Soma Sundaram Mudali 2nd Street, Chennai 82?

The current guideline value of Soma Sundaram Mudali 2nd Street, Chennai 82 is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,400 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 129%.

What is the land classification for Soma Sundaram Mudali 2nd Street?

Soma Sundaram Mudali 2nd Street is classified as Residential Class I Type - II.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000. The stamp duty at 7% is Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers this street?

The AnnaNagar Sub Registrar Office covers Soma Sundaram Mudali 2nd Street, Chennai 82, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.