Guideline Value for Somanadhapuram Pandara Street

Somanadhapuram Pandara Street guideline value

The current guideline value of Somanadhapuram Pandara Street is Rs 250 per sq.ft. 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 Pandara Street has changed

The guideline value for Somanadhapuram Pandara 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, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 167 per sq.ft. The value then increased by 50% to Rs 250 per sq.ft in 2023, and it has remained unchanged at Rs 250 per sq.ft in the 2024 revision effective from 1 July 2024. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 150%. The revisions reflect the changes in the property landscape, with the latest values indicating stability in the current market.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value for Somanadhapuram Pandara Street is below this median.

• Somanadhapuram Muthurampillai Street: Rs 250 per sq.ft (2024)
• Somanadhapuram Yadhaval Street: Rs 250 per sq.ft (2024)
• Somanadhaburam Bjanai Koil 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 Narasam Pettai Street: Rs 1,350 per sq.ft (2024)

Stamp duty and registration fee for property in Somanadhapuram Pandara 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, and the registration fee at 2% would be Rs 5,000, making a total of Rs 22,500. 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 Somanadhapuram Pandara Street?

The Somanadhapuram Pandara 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Uthiramerur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. Buyers must be aware of the guideline value to ensure they are paying the correct amount during the registration process.

Frequently asked questions

What is the current guideline value of Somanadhapuram Pandara Street?

The current guideline value of Somanadhapuram Pandara 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 seen several changes, with the most recent revision in 2024 maintaining the value at Rs 250 per sq.ft, unchanged from 2023. The value was Rs 167 per sq.ft in 2017 and Rs 250 per sq.ft in 2012.

What is the land classification for Somanadhapuram Pandara Street?

Somanadhapuram Pandara Street is classified as Residential Class IV Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Somanadhapuram Pandara Street?

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

How is the stamp duty calculated for properties in Uthiramerur?

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 2,50,000, the stamp duty at 7% would be Rs 17,500.