Guideline Value for Soundar Nagar

Soundar Nagar guideline value

The current guideline value of Soundar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Melamaiyur village under the Chengleput Joint I SRO, classified as Mixed Type - II land.

How the guideline value of Soundar Nagar has changed

Over the years, the guideline value for Soundar Nagar has seen several revisions. The 2007 revision set the value at Rs 333 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this value dropped to Rs 670 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it to Rs 1,100 per sq.ft.

In terms of percentage changes, the value increased by 200% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Melamaiyur

In Melamaiyur village, there are 37 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,000 per sq.ft. The median for these streets is Rs 1,212 per sq.ft, placing Soundar Nagar's 2024 figure below that median.

• Sri Ganapathi Avenue: Rs 1,100 per sq.ft (2024)
• Sri Guru Nagar: Rs 1,212 per sq.ft (2024)
• Srinivasan Avenue: Rs 1,650 per sq.ft (2024)
• Sathyakanthy Avenue: Rs 1,650 per sq.ft (2024)
• Sri Ram Nagar: Rs 825 per sq.ft (2024)
• Sabthagiri nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Soundar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value totals Rs 11,00,000. The stamp duty at 7% amounts to Rs 77,000, and the registration fee at 2% is Rs 22,000, bringing the total to Rs 99,000. Please note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Soundar Nagar?

The Sub Registrar Office that covers Soundar Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Melamaiyur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. It serves as a reference point for both buyers and sellers during the registration process.

At the time of registration, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Soundar Nagar?

The current guideline value of Soundar Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 333 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the median guideline value for streets in Melamaiyur?

The median guideline value for the 37 streets in Melamaiyur under the Chengleput Joint I SRO is Rs 1,212 per sq.ft.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Soundar Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Soundar Nagar?

The Sub Registrar Office for Soundar Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.