Guideline Value for Somasundaram Avenue 6th Street

Somasundaram Avenue 6th Street guideline value

The current guideline value of Somasundaram Avenue 6th Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Somasundaram Avenue 6th Street has changed

Starting from the 2012 revision, the guideline value for Somasundaram Avenue 6th Street was Rs 3,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 2,144 per sq.ft. Following that, the value increased significantly to Rs 3,200 per sq.ft in the 2023 revision, and then rose to Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value saw a substantial increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, 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 total, there are 530 streets in Porur under the Kunrathur SRO that have a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Somasundaram Avenue 6th Street is below this median.

• Somasundaram Avenue 5th Street: Rs 3,520 per sq.ft (2024)
• Somasundaram Avenue 4th 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 6th 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, resulting in a total of Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Somasundaram Avenue 6th Street?

The Sub Registrar Office that covers Somasundaram Avenue 6th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees based on the property size and value. This ensures that all transactions are processed fairly and transparently, adhering to the established norms set by the Registration Department.

Frequently asked questions

What is the current guideline value of Somasundaram Avenue 6th Street?

The current guideline value of Somasundaram Avenue 6th 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 being an increase from Rs 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024. There was also a significant increase 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 6th Street?

Somasundaram Avenue 6th Street is classified as Residential Special Type - II, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Somasundaram Avenue 6th Street?

The Sub Registrar Office for Somasundaram Avenue 6th Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Somasundaram Avenue 6th Street?

Stamp duty 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 would incur a stamp duty of Rs 2,46,400.