Guideline Value for Sothuperumpedu Road

Sothuperumpedu Road guideline value

The current guideline value of Sothuperumpedu Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Karanodai village, under the Redhills SRO, and is classified as Residential Special Type - I.

How the guideline value of Sothuperumpedu Road has changed

The guideline value for Sothuperumpedu Road has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has set the value at Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

From the 2017 revision to the 2024 revision, the overall increase is 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Karanodai

Karanodai village has a total of 38 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,000 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, placing Sothuperumpedu Road's 2024 figure above this median.

• Sivan Koil Street: Rs 1,650 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 440 per sq.ft (2024)
• Sri Krishna Nagar Annex-III: Rs 440 per sq.ft (2024)
• Shanmuga Nagar: Rs 1,210 per sq.ft (2024)
• Senthil Avenue: Rs 1,650 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Sothuperumpedu Road

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would amount to Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sothuperumpedu Road?

The Sub Registrar Office that covers Sothuperumpedu 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karanodai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. This value is also used by the authorities to assess the taxes related to the property transaction.

Frequently asked questions

What is the current guideline value of Sothuperumpedu Road?

The current guideline value of Sothuperumpedu Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking a total increase of 64% over these years.

What is the median guideline value in Karanodai?

The median guideline value for the 38 streets in Karanodai is Rs 1,210 per sq.ft, with Sothuperumpedu Road's 2024 figure being above this median.

What are the stamp duty and registration fees for property on Sothuperumpedu Road?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 1,48,500, based on the current guideline value of Rs 16,50,000.

Where is the Sub Registrar Office for Sothuperumpedu Road located?

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