Guideline Value for Somasundara Devar 4th Street

Somasundara Devar 4th Street guideline value

The current guideline value of Somasundara Devar 4th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the jurisdiction of the AnnaNagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Somasundara Devar 4th Street has changed

Over the years, the guideline value for Somasundara Devar 4th Street has seen several revisions. 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 significant rise of 108%. However, the value then decreased by 33% to Rs 3,350 per sq.ft in 2017. The next revision in 2023 raised it to Rs 5,000 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 129%. It is noteworthy that there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram village 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. The median guideline value in this area is Rs 4,900 per sq.ft, making the current guideline value of Somasundara Devar 4th Street above the median.

• Somasundara Devar 3rd Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 5th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 2nd 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 4th 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, bringing the total fees to 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Somasundara Devar 4th Street?

The Sub Registrar Office that covers Somasundara Devar 4th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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 properties in Ayanavaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that both the buyer and seller are aware of the official valuation of the property.

When a property is sold, the guideline value helps determine the financial obligations of the buyer, as the stamp duty is charged based on this value or the sale price, whichever is higher. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Somasundara Devar 4th Street?

The current guideline value of Somasundara Devar 4th 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 changed from Rs 2,400 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 129% over the years.

What is the land classification of Somasundara Devar 4th Street?

Somasundara Devar 4th Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Somasundara Devar 4th Street?

The Sub Registrar Office for Somasundara Devar 4th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.