Guideline Value for Somanadhapuram Muthurampillai Street

Somanadhapuram Muthurampillai Street guideline value

The current guideline value of Somanadhapuram Muthurampillai Street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Somanadhapuram Muthurampillai Street has changed

The guideline value for Somanadhapuram Muthurampillai Street has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in 2012, marking a significant rise of 150%. However, the value dropped to Rs 167 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value increased by 50%, bringing it back to Rs 250 per sq.ft, which remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, the guideline value has increased by 150% from 2007 to 2024.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO, with guideline values ranging from Rs 200 to Rs 1,800 per sq.ft. The median guideline value in this area is Rs 800 per sq.ft, placing Somanadhapuram Muthurampillai Street's 2024 figure below that median.

• Somanadhaburam Bjanai KoilStreet: Rs 250 per sq.ft (2024)
• Somanadhapuram Pandara Street: Rs 250 per sq.ft (2024)
• Somanadhapuram Yadhaval Street: Rs 250 per sq.ft (2024)
• South Reddy Street: Rs 1,500 per sq.ft (2024)
• S.L.Green City: Rs 300 per sq.ft (2024)
• Sinna NarasamPettai Street: Rs 1,350 per sq.ft (2024)

Stamp duty and registration fee for property in Somanadhapuram Muthurampillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the 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 Somanadhapuram Muthurampillai Street?

The Somanadhapuram Muthurampillai Street falls under the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Uthiramerur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to determine the applicable charges, ensuring that the transaction is recorded accurately and legally. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Somanadhapuram Muthurampillai Street?

The current guideline value of Somanadhapuram Muthurampillai Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then dropping to Rs 167 per sq.ft in 2017, before returning to Rs 250 per sq.ft in 2023 and 2024.

What is the median guideline value in Uthiramerur?

The median guideline value in Uthiramerur is Rs 800 per sq.ft, which is higher than the current guideline value of Somanadhapuram Muthurampillai Street.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Uthiramerur Sub Registrar Office located?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.