Guideline Value for Somasundaram Avenue 4th Street

Somasundaram Avenue 4th Street guideline value

The current guideline value of Somasundaram Avenue 4th 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, classified as Residential Special Type - II.

How the guideline value of Somasundaram Avenue 4th Street has changed

Over the years, the guideline value for Somasundaram Avenue 4th Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 3,200 per sq.ft. This value remained unchanged until 2017, when it decreased by 33% to Rs 2,144 per sq.ft. The next revision in 2023 brought a significant increase of 49%, raising the value to Rs 3,200 per sq.ft. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 3,520 per sq.ft.

It is important to note that there are no figures available in the register 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 for these streets is Rs 3,960 per sq.ft, indicating that Somasundaram Avenue 4th Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Somasundaram Avenue 4th 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, totaling 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.

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

Which Sub Registrar Office covers Somasundaram Avenue 4th Street?

The Somasundaram Avenue 4th Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific 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 during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling a property, the guideline value helps in calculating the financial obligations involved in the transaction. This ensures transparency and adherence to legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Somasundaram Avenue 4th Street?

The current guideline value of Somasundaram Avenue 4th 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 increased 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 4th Street?

Somasundaram Avenue 4th Street is classified as Residential Special Type - II.

Which Sub Registrar Office covers this street?

The Kunrathur Sub Registrar Office covers Somasundaram Avenue 4th Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,46,400.