Guideline Value for Sothupakkam Salai

Sothupakkam Salai guideline value

The current guideline value of Sothupakkam Salai is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Theerthangiriyampattu village, under the Redhills SRO, classified as Industries Type - I.

How the guideline value of Sothupakkam Salai has changed

The guideline value for Sothupakkam Salai has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 700 per sq.ft in 2012, marking a rise of 40%. However, between 2012 and 2017, the value decreased to Rs 469 per sq.ft, a decline of 33%. The value then increased significantly to Rs 700 per sq.ft in 2023, a rise of 49%, and has now reached Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 54%.

Guideline values in Theerthangiriyampattu

In Theerthangiriyampattu, there are 24 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft. The median value is Rs 605 per sq.ft, and Sothupakkam Salai's current guideline value is above this median.

• Sathiavani Muthu Street: Rs 880 per sq.ft (2024)
• Thargass Road: Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 605 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 440 per sq.ft (2024)
• Poovai Moorthiyar Street: Rs 330 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sothupakkam Salai

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. 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 further calculations.

Which Sub Registrar Office covers Sothupakkam Salai?

The Sub Registrar Office that covers Sothupakkam Salai 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Theerthangiriyampattu. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Sothupakkam Salai?

The current guideline value of Sothupakkam Salai is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 54% over the years.

What is the registration office for Sothupakkam Salai?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 7,70,000 incurs a stamp duty of Rs 53,900 and a registration fee of Rs 15,400.

What is the median guideline value in Theerthangiriyampattu?

The median guideline value in Theerthangiriyampattu is Rs 605 per sq.ft, with Sothupakkam Salai's current value being above this median.