Guideline Value for Somasundaram Avenue

Somasundaram Avenue guideline value

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

How the guideline value of Somasundaram Avenue has changed

The guideline value for Somasundaram Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 261 per sq.ft. This figure increased to Rs 485 per sq.ft in 2003, marking an increase of 86%. The value continued to rise, reaching Rs 750 per sq.ft in 2007, which represented a 55% increase from the previous revision. By 2012, the value was Rs 3,200 per sq.ft, reflecting a substantial increase of 327% from 2007. However, it then decreased to Rs 2,144 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,200 per sq.ft, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,520 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 1249%.

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, with a median value of Rs 3,960 per sq.ft. The guideline value for Somasundaram Avenue is below this median.

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

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. Together, the total cost for stamp duty and registration fees would be 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?

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

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

The guideline value is a critical factor when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Somasundaram Avenue?

The current guideline value of Somasundaram Avenue 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 significantly from Rs 261 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1249% over this period.

What are the stamp duty and registration fees for property in Somasundaram Avenue?

For a 1,000 sq.ft plot, the total guideline value is 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, totaling Rs 3,16,800.

Which Sub Registrar Office covers Somasundaram Avenue?

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

What is the land classification for Somasundaram Avenue?

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