Guideline Value for Somasundaram Avenue 3rd Street

Somasundaram Avenue 3rd Street guideline value

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

How the guideline value of Somasundaram Avenue 3rd Street has changed

Looking at the history of the guideline value, the 2012 revision set the rate at Rs 3,200 per sq.ft. This was followed by a decrease to Rs 2,144 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision to Rs 3,200 per sq.ft, and then a further rise to Rs 3,520 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2012 revision to the current 2024 figure, 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 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, placing Somasundaram Avenue 3rd Street's 2024 figure below that median.

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

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 cost for these 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 details.

Which Sub Registrar Office covers Somasundaram Avenue 3rd Street?

The Somasundaram Avenue 3rd Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in 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 sale price is reflective of the market standards set by the government.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is compliant with legal requirements and that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Somasundaram Avenue 3rd Street?

The current guideline value of Somasundaram Avenue 3rd 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 seen several revisions, with the most recent changes being an increase from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024, and a rise of 49% from Rs 2,144 per sq.ft in 2017 to Rs 3,200 per sq.ft in 2023.

What is the land classification for Somasundaram Avenue 3rd Street?

Somasundaram Avenue 3rd Street is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Somasundaram Avenue 3rd Street?

The Kunrathur Sub Registrar Office covers Somasundaram Avenue 3rd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.