Guideline Value for Somasundaram Avenue 5th Street

Somasundaram Avenue 5th Street guideline value

The current guideline value of Somasundaram Avenue 5th 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 5th Street has changed

Over the years, the guideline value for Somasundaram Avenue 5th Street has seen several revisions. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 3,200 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 2,144 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also noted a value of Rs 3,200 per sq.ft, which was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Therefore, the earliest recorded value is from 2012.

Guideline values in Porur

In Porur, there are a total of 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, placing Somasundaram Avenue 5th Street's 2024 figure below the median.

• Somasundaram Avenue 4th Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 6th Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 3rd Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 2nd 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 5th 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, calculated at 7%, would be Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Together, these fees total Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Somasundaram Avenue 5th Street?

The Sub Registrar Office that covers Somasundaram Avenue 5th 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 in the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded at a fair value, thereby facilitating the legal transfer of ownership. This value helps in assessing the appropriate fees that are applicable based on the property's worth.

Frequently asked questions

What is the current guideline value of Somasundaram Avenue 5th Street?

The current guideline value of Somasundaram Avenue 5th 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 2023 to Rs 3,520 per sq.ft in 2024, a 10% increase. It was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012, reflecting a 49% increase from 2017 to 2023.

What is the land classification for Somasundaram Avenue 5th Street?

Somasundaram Avenue 5th Street is classified as Residential Special Type - II under the Kunrathur SRO.

Where can I find the registration office for this street?

The registration office covering Somasundaram Avenue 5th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Somasundaram Avenue 5th Street?

Stamp duty for properties in Somasundaram Avenue 5th Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 2,46,400.