Guideline Value for Soorammal Street

Soorammal Street guideline value

The current guideline value of Soorammal Street is Rs 7,100 per sq.ft. It is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Soorammal Street has changed

The guideline value for Soorammal Street has seen several revisions over the years. In 2003, the value was Rs 912 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007. This marked a significant rise of 64%. The value then surged dramatically to Rs 6,500 per sq.ft in 2012, reflecting a 333% increase. However, it dropped to Rs 4,355 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 6,500 per sq.ft in 2023, with a notable increase of 49%, before reaching the current value of Rs 7,100 per sq.ft in 2024, a 9% increase.

It is important to note that there is no figure available for Soorammal Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 679%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which aligns with the current value of Soorammal Street.

• Soorammal Lane: Rs 7,100 per sq.ft (2024)
• South Coovam Salai: Rs 4,400 per sq.ft (2024)
• Slum Clearance Board (tenement): Rs 2,800 per sq.ft (2024)
• Siyali Mudali Stret: Rs 7,100 per sq.ft (2024)
• Spurtank Road 2nd lane (logaiyya maistry street): Rs 3,900 per sq.ft (2024)
• Spurtankroad (Mayor V.R.Ramanathan Road): Rs 13,500 per sq.ft (2024)

Stamp duty and registration fee for property in Soorammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, resulting in a total of Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Soorammal Street?

The Sub Registrar Office that covers Soorammal Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Soorammal Street?

The current guideline value of Soorammal Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 912 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, marking a total increase of 679% over the years.

What is the land classification for Soorammal Street?

Soorammal Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Soorammal Street?

The Sub Registrar Office for Soorammal Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.