Guideline Value for Somasundara Moorthy Avenue Road

Somasundara Moorthy Avenue Road guideline value

The current guideline value of Somasundara Moorthy Avenue Road is Rs 3,520 per sq.ft, effective from 1 July 2024. This road is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Somasundara Moorthy Avenue Road has changed

The guideline value for Somasundara Moorthy Avenue Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was followed by a decrease to Rs 2,144 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 3,200 per sq.ft in 2023, and further rose to Rs 3,520 per sq.ft in the 2024 revision.

Between the 2023 and 2024 revisions, there was a 10% increase. From 2017 to 2023, the increase was substantial at 49%. The 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, placing Somasundara Moorthy Avenue Road's 2024 figure below that median.

• Somasundaram Avenue 6th Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 5th Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 4th Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 3rd Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 2nd Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 1st Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Somasundara Moorthy Avenue Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Somasundara Moorthy Avenue Road?

The Somasundara Moorthy Avenue Road is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Porur

The guideline value is a crucial factor during the registration process when buying or selling property in Porur. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value as per the government standards.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Somasundara Moorthy Avenue Road?

The current guideline value of Somasundara Moorthy Avenue Road is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What is the land classification of Somasundara Moorthy Avenue Road?

Somasundara Moorthy Avenue Road is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,16,800.

Which Sub Registrar Office covers this area?

The Kunrathur Sub Registrar Office covers Somasundara Moorthy Avenue Road, located at No.59, Road Street, Kundrathur, Chennai -600 069.