Guideline Value for Sothupakkam Road

Sothupakkam Road guideline value

The current guideline value for Sothupakkam Road in Palavayal village, under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sothupakkam Road has changed

Over the years, the guideline value for Sothupakkam Road has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, there was a significant drop to Rs 268 per sq.ft in 2017. From 2017 to 2023, the value rose sharply to Rs 400 per sq.ft, and in the latest 2024 revision, it stands at Rs 440 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 47%.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,200 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is the same as the current guideline value for Sothupakkam Road. Below are other streets in Palavayal:

• Sri Balaji Nagar: Rs 440 per sq.ft (2024)
• Sri Ganesh Balaji Avenue: Rs 440 per sq.ft (2024)
• Sri Raghavan Nagar: Rs 440 per sq.ft (2024)
• Sri Ram Nagar Phase-2: Rs 880 per sq.ft (2024)
• Raghavan Nagar: Rs 440 per sq.ft (2024)
• Vaanamamalai Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Sothupakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sothupakkam Road?

The Sub Registrar Office that covers Sothupakkam Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Palavayal. It serves as the minimum value for which the 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 helps determine the applicable fees based on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Sothupakkam Road?

The current guideline value for Sothupakkam Road is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 47% over this period.

What is the land classification for Sothupakkam Road?

Sothupakkam Road is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the other streets in Palavayal with the same guideline value?

Other streets in Palavayal that share the same guideline value of Rs 440 per sq.ft include Sri Balaji Nagar, Sri Ganesh Balaji Avenue, Sri Raghavan Nagar, and Raghavan Nagar.

Where can I find the Sub Registrar Office for Sothupakkam Road?

The Sub Registrar Office for Sothupakkam Road is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.