Guideline Value for Soosaiya Nagar

Soosaiya Nagar guideline value

The current guideline value of Soosaiya Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Soosaiya Nagar has changed

The guideline value of Soosaiya Nagar has seen significant changes over the years. The earliest recorded figure is from 2003, which was Rs 84 per sq.ft. This value increased dramatically to Rs 1,273 per sq.ft in 2017, marking a rise of 1415%. Following that, the value continued to grow to Rs 1,900 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for the years 2002, 2007, and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 2388%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which is the same as the guideline value for Soosaiya Nagar.

• Solar Estate: Rs 2,090 per sq.ft (2024)
• Sokkalingam Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Sokkalingam Nagar Extention: Rs 2,420 per sq.ft (2024)
• Sokkalingam Nagar: Rs 2,420 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,090 per sq.ft (2024)
• Sri Balaji Nagar Adithi Avenue: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Soosaiya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Soosaiya Nagar?

The Sub Registrar Office that covers Soosaiya Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further information.

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

The guideline value is a crucial factor when registering property transactions in Noombal. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring compliance with legal requirements.

When you buy or sell property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and reflect the current market conditions as indicated by the guideline value.

Frequently asked questions

What is the current guideline value for Soosaiya Nagar?

The current guideline value for Soosaiya Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 84 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 2388% over the years.

What are the stamp duty and registration fees for a property in Soosaiya Nagar?

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office covers Soosaiya Nagar?

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

What is the land classification for Soosaiya Nagar?

The land classification for Soosaiya Nagar is Residential Special Type - I, indicating its designated use for residential purposes.