Guideline Value for Somasundara Devar 6th Street

Somasundara Devar 6th Street guideline value

The current guideline value of Somasundara Devar 6th 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. The land classification for this area is Residential Class I Type - II.

How the guideline value of Somasundara Devar 6th Street has changed

The guideline value for Somasundara Devar 6th Street has seen several revisions over the years. In 2002, the guideline value was Rs 589 per sq.ft. This figure increased significantly to Rs 2,400 per sq.ft in 2007, marking a 307% increase. The value then rose to Rs 5,000 per sq.ft in 2012, which was a 108% increase from the previous revision. However, in 2017, the value decreased to Rs 3,350 per sq.ft, reflecting a 33% drop. The guideline value rose again to Rs 5,000 per sq.ft in 2023, and subsequently increased to Rs 5,500 per sq.ft in 2024, representing a 10% increase.

It is important to note that there is no figure available for the 2003 revision in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 834%.

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. The median guideline value in this area is Rs 4,900 per sq.ft, making the current value of Somasundara Devar 6th Street above this median.

• Somasundara Devar 5th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar Ist Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 4th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 3rd Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 2nd 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 6th 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 essential to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Somasundara Devar 6th Street?

The Somasundara Devar 6th 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 in the registration process when buying or selling property in Ayanavaram. It serves as a reference point for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, understanding the guideline value helps buyers and sellers ensure compliance with legal requirements and avoid potential disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Somasundara Devar 6th Street?

The current guideline value of Somasundara Devar 6th 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 589 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 834% over the years.

What are the stamp duty and registration fees for properties here?

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 registrations for Somasundara Devar 6th Street?

The AnnaNagar Sub Registrar Office handles registrations for Somasundara Devar 6th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, with Somasundara Devar 6th Street's value being above this median.