Guideline Value for Soundarajan Nagar

Soundarajan Nagar guideline value

The current guideline value of Soundarajan Nagar is Rs 3,080 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this locality is Residential Class I Type - I.

How the guideline value of Soundarajan Nagar has changed

The guideline value for Soundarajan Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 134 per sq.ft. This increased to Rs 547 per sq.ft in 2007, marking a substantial rise of 308%. The value then jumped to Rs 2,800 per sq.ft in 2012, reflecting an increase of 412%. However, it decreased to Rs 1,876 per sq.ft in 2017, a decline of 33%. The guideline value then rose to Rs 2,800 per sq.ft in 2023, before reaching the current value of Rs 3,080 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2199%. The register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village features a total of 194 streets under the Pallavaram SRO, with a 2024 guideline value range from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 2,530 per sq.ft, positioning Soundarajan Nagar's 2024 figure above this median.

• Sri Ambal Nagar: Rs 4,125 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 2,530 per sq.ft (2024)
• Self Help Private Industrial Estate: Rs 2,200 per sq.ft (2024)
• Self Help Industrial Estate 1 To 5 Streets: Rs 2,200 per sq.ft (2024)
• Sayee Street (Indian Lane): Rs 2,200 per sq.ft (2024)
• Sayee Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Soundarajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total cost for stamp duty and registration fees to Rs 2,77,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Soundarajan Nagar?

The Sub Registrar Office that covers Soundarajan Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Soundarajan Nagar?

The current guideline value of Soundarajan Nagar is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 134 per sq.ft in 2003 to Rs 3,080 per sq.ft in 2024, reflecting an overall increase of 2199% over the years.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai is Rs 2,530 per sq.ft, with Soundarajan Nagar's current value being above this median.

What are the stamp duty and registration fees for properties in Soundarajan Nagar?

For a property valued at Rs 30,80,000, the stamp duty would be Rs 2,15,600 and the registration fee would be Rs 61,600, totaling Rs 2,77,200.

Which office handles property registrations in Soundarajan Nagar?

The Pallavaram Sub Registrar Office handles property registrations in Soundarajan Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.