Guideline Value for Somasundara Devar 3rd Street

Somasundara Devar 3rd Street guideline value

The current guideline value of Somasundara Devar 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class I Type - II.

How the guideline value of Somasundara Devar 3rd Street has changed

The guideline value for Somasundara Devar 3rd Street has undergone several revisions 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 the 2012 revision, marking a significant rise of 108%. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, reflecting a drop of 33%. The value then increased to Rs 5,000 per sq.ft in the 2023 revision, which was later revised to Rs 5,500 per sq.ft in 2024, representing a 10% increase.

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

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft as of 2024. The median guideline value for the village is Rs 4,900 per sq.ft, making the current value for Somasundara Devar 3rd Street above this median.

• Somasundara Devar 2nd Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 4th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 5th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 6th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar Ist Street: Rs 5,500 per sq.ft (2024)
• Soma Sundaram Mudali 2nd Street, Chennai 82: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Somasundara Devar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together 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 accurate calculations.

Which Sub Registrar Office covers Somasundara Devar 3rd Street?

The Somasundara Devar 3rd Street falls under the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 is a crucial factor when registering property in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you buy or sell property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official value set by the authorities.

Frequently asked questions

What is the current guideline value of Somasundara Devar 3rd Street?

The current guideline value of Somasundara Devar 3rd Street 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 seen various revisions, starting from Rs 2,400 per sq.ft in 2007, increasing to Rs 5,000 in 2012, then decreasing to Rs 3,350 in 2017, and finally rising to Rs 5,500 in 2024.

What is the median guideline value in Ayanavaram?

The median guideline value for Ayanavaram is Rs 4,900 per sq.ft, which is lower than the current value of Somasundara Devar 3rd Street.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for Somasundara Devar 3rd Street?

The registration for Somasundara Devar 3rd Street is handled by the AnnaNagar Sub Registrar Office located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.