Guideline Value for Somanadhapuram Yadhaval Street

Somanadhapuram Yadhaval Street guideline value

The current guideline value of Somanadhapuram Yadhaval 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 Yadhaval Street has changed

The guideline value for Somanadhapuram Yadhaval Street has undergone several revisions over the years. The earliest recorded value was in 2007 at Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in 2012. However, it then decreased to Rs 167 per sq.ft in 2017. The 2023 revision maintained the value at Rs 250 per sq.ft, and this value remains unchanged in the 2024 revision.

From 2017 to 2023, there was a significant increase of 50%. The overall change from the 2007 revision to the 2024 revision shows a total increase of 150%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 Yadhaval Street is below this median.

• Somanadhapuram Pandara Street: Rs 250 per sq.ft (2024)
• Somanadhapuram Muthurampillai Street: Rs 250 per sq.ft (2024)
• Somanadhaburam Bjanai KoilStreet: 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 Yadhaval Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, totaling Rs 17,500, and the registration fee is 2%, amounting to Rs 5,000. Together, the total cost for these fees is Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Somanadhapuram Yadhaval Street?

The Sub Registrar Office that covers Somanadhapuram Yadhaval Street is 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 plays a crucial role during the registration of property transactions in Uthiramerur. It serves as a benchmark for determining 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 compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Somanadhapuram Yadhaval Street?

The current guideline value of Somanadhapuram Yadhaval 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 from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, decreased to Rs 167 per sq.ft in 2017, and remained at Rs 250 per sq.ft in both 2023 and 2024.

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

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500 and the registration fee is Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the 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.

What is the land classification of Somanadhapuram Yadhaval Street?

Somanadhapuram Yadhaval Street is classified as Residential Class IV Type - III, which indicates its designation for residential use.