Guideline Value for Somasundara Devar Ist Street

Somasundara Devar Ist Street guideline value

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

How the guideline value of Somasundara Devar Ist Street has changed

The guideline value for Somasundara Devar Ist Street has seen several revisions over the years. In 2007, the value was Rs 2,400 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. This was a significant jump of 108%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, marking a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by another increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 129%. The register has no figures 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 for these streets is Rs 4,900 per sq.ft, placing Somasundara Devar Ist Street's 2024 value above that median.

• Somasundara Devar 6th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 5th 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 Ist 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 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 accurate calculations.

Which Sub Registrar Office covers Somasundara Devar Ist Street?

The Somasundara Devar Ist Street falls under the jurisdiction of 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 property transactions in Ayanavaram, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the registration office uses the guideline value to calculate applicable fees and taxes, ensuring that both parties are aware of their financial obligations. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Somasundara Devar Ist Street?

The current guideline value of Somasundara Devar Ist 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 for Somasundara Devar Ist Street?

The land classification for Somasundara Devar Ist Street is Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office covering Somasundara Devar Ist 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, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.