Guideline Value for Somasundara Vinayagar Koil Street 2nd Lane

Somasundara Vinayagar Koil Street 2nd Lane guideline value

The current guideline value of Somasundara Vinayagar Koil Street 2nd 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 2nd Lane has changed

The guideline value for Somasundara Vinayagar Koil Street 2nd Lane has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 700 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, representing a 33% decline. The subsequent revision in 2023 set the guideline value at Rs 2,500 per sq.ft, which was an increase of 49%. The most recent revision in 2024 has raised the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

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 guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Somasundara Vinayagar Koil Street 2nd Lane.

• Somasundara Vinayagar Koil Street 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to 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 or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Somasundara Vinayagar Koil Street 2nd Lane?

The Somasundara Vinayagar Koil Street 2nd Lane is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government during the transaction.

Frequently asked questions

What is the current guideline value for Somasundara Vinayagar Koil Street 2nd Lane?

The current guideline value for Somasundara Vinayagar Koil Street 2nd 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 from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What is the land classification for Somasundara Vinayagar Koil Street 2nd Lane?

The land classification for Somasundara Vinayagar Koil Street 2nd Lane is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sembiam?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.