Guideline Value for Somci Boy Nagar

Somci Boy Nagar guideline value

The current guideline value of Somci Boy Nagar, located in Soorapattu village under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Somci Boy Nagar has changed

Over the years, the guideline value of Somci Boy Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 has raised it to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. The 2023 to 2024 revision reflects an 8% increase. Overall, from 2012 to 2024, the guideline value has seen an increase of 8%.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with the median value being Rs 1,300 per sq.ft. Somci Boy Nagar's 2024 guideline value aligns with this median.

• Soorapattu Main Road: Rs 1,900 per sq.ft (2024)
• Sivaprakasam Nagar: Rs 1,900 per sq.ft (2024)
• Sis Cape town Phase-IV: Rs 4,478 per sq.ft (2024)
• Sis Cape town Phase-III: Rs 4,478 per sq.ft (2024)
• S I S Capetown Phase-II: Rs 3,400 per sq.ft (2024)
• S I S Capetown: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Somci Boy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Somci Boy Nagar?

Somci Boy Nagar falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Soorapattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Somci Boy Nagar?

The current guideline value of Somci Boy Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017. It increased to Rs 1,200 per sq.ft in 2023 and is now Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Somci Boy Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Somci Boy Nagar?

Somci Boy Nagar is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Somci Boy Nagar?

Somci Boy Nagar is classified under Residential Class II Type - I, indicating its suitability for residential development.