Guideline Value for Somasundara Vinayagar Koil Street 1st Lane

Somasundara Vinayagar Koil Street 1st Lane guideline value

The current guideline value of Somasundara Vinayagar Koil Street 1st Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Somasundara Vinayagar Koil Street 1st Lane has changed

The guideline value for Somasundara Vinayagar Koil Street 1st Lane has seen several revisions over the years. Starting from Rs 319 per sq.ft in 2002, it increased to Rs 700 per sq.ft in 2007, marking a significant rise of 119%. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a 257% increase. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and further to Rs 2,700 per sq.ft in 2024, which is an 8% rise.

It is important to note that there is no figure for Somasundara Vinayagar Koil Street 1st Lane in the 2003 revision. Overall, the guideline value has increased by 746% from 2002 to 2024.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which aligns with the guideline value for Somasundara Vinayagar Koil Street 1st Lane.

• Somasundara Vinayagar Koil Street 2nd Lane: Rs 2,700 per sq.ft (2024)
• Somasundara Vinayagar Koil Street 3rd Lane: Rs 2,700 per sq.ft (2024)
• Soma Sundara Vinayagar Koil Street (Melpattadai): Rs 3,500 per sq.ft (2024)
• Somu Gramani Street: Rs 2,700 per sq.ft (2024)
• Sivaprakasam Street: Rs 2,200 per sq.ft (2024)
• Sivapatham Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Somasundara Vinayagar Koil Street 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Somasundara Vinayagar Koil Street 1st Lane?

The Sub Registrar Office covering Somasundara Vinayagar Koil Street 1st Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

When buying or selling property in Sembiam, the guideline value is a crucial factor as it determines the minimum value at which property transactions can be registered. This value is used by the registration department to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Somasundara Vinayagar Koil Street 1st Lane?

The current guideline value of Somasundara Vinayagar Koil Street 1st Lane is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 319 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 746% over the years.

What is the land classification for Somasundara Vinayagar Koil Street 1st Lane?

Somasundara Vinayagar Koil Street 1st Lane is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the Sembiam area.

How is stamp duty calculated for properties in Sembiam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. In Somasundara Vinayagar Koil Street 1st Lane, the stamp duty is currently set at 7% of the guideline value.