Guideline Value for Soni Nagar 2nd Street

Soni Nagar 2nd Street guideline value

The current guideline value of Soni Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO with a land classification of Residential Class II Type - III.

How the guideline value of Soni Nagar 2nd Street has changed

The guideline value for Soni Nagar 2nd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 2,345 per sq.ft in the 2017 revision, marking a change of +56%. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, indicating an increase of +64% from the 2017 figure. Overall, from 2007 to 2024, the guideline value has risen by +157%.

It is important to note that the register has no figures for the years 2023, 2012, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which means Soni Nagar 2nd Street's 2024 figure is below that median.

• Soni Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Soni Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Soni Nagar: Rs 3,850 per sq.ft (2024)
• SPIC Nagar: Rs 4,400 per sq.ft (2024)
• Sivasakthi Street: Rs 4,400 per sq.ft (2024)
• Sri Devi Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Soni Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Soni Nagar 2nd Street?

The Sub Registrar Office that covers Soni Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This value is essential for both buyers and sellers, as it influences the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Soni Nagar 2nd Street?

The current guideline value of Soni Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 2,345 per sq.ft in 2017, and then to Rs 3,850 per sq.ft in 2024. This represents a total increase of +157% from 2007 to 2024.

Are there any years with no guideline value for Soni Nagar 2nd Street?

Yes, the register has no figures for Soni Nagar 2nd Street for the years 2023, 2012, 2003, and 2002.

What is the stamp duty rate for properties in Soni Nagar 2nd Street?

The stamp duty for properties in Soni Nagar 2nd Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Soni Nagar 2nd Street?

The Sub Registrar Office for Soni Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.