Guideline Value for Somasundaram Avenue 2nd Street

Somasundaram Avenue 2nd Street guideline value

The current guideline value of Somasundaram Avenue 2nd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Somasundaram Avenue 2nd Street has changed

The guideline value for Somasundaram Avenue 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 3,200 per sq.ft. This was followed by a decrease to Rs 2,144 per sq.ft in 2017. The value then increased to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,520 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The most recent change, from 2023 to 2024, shows a 10% increase in the guideline value. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value in this area is Rs 3,960 per sq.ft, which means that Somasundaram Avenue 2nd Street's 2024 figure is below that median.

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

Stamp duty and registration fee for property in Somasundaram Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total cost for these fees Rs 3,16,800. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Somasundaram Avenue 2nd Street?

The Sub Registrar Office that covers Somasundaram Avenue 2nd Street is 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 when registering property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process. Buyers and sellers should be aware that the guideline value can impact the overall costs associated with property transfers.

When buying or selling property in Porur, it is essential to refer to the latest guideline value to ensure compliance with legal requirements. The guideline value is regularly updated, and staying informed about these changes can help avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Somasundaram Avenue 2nd Street?

The current guideline value of Somasundaram Avenue 2nd Street 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 for Somasundaram Avenue 2nd Street?

The land classification for Somasundaram Avenue 2nd Street is Residential Special Type - II.

Where can I find the registration office for this street?

The registration office for Somasundaram Avenue 2nd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 at 7%.