Guideline Value for Soundarya Nagar

Soundarya Nagar guideline value

The current guideline value of Soundarya Nagar, located in Gowrivakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Soundarya Nagar has changed

The guideline value for Soundarya Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 1,500 per sq.ft in 2023 and finally reached Rs 1,600 per sq.ft in 2024, reflecting a 7% increase from the previous year. 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 256%. The changes between the revisions show a significant fluctuation, particularly between 2007 and 2012, and then a steady rise leading up to the current value.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. Soundarya Nagar's 2024 guideline value of Rs 1,600 per sq.ft is below this median.

• Sivan Koil Rajaveedhi: Rs 860 per sq.ft (2024)
• Sivagami Nagar Thiruvalluvar Street & Extn: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Pirathana salai: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Kamarajar Street: Rs 1,600 per sq.ft (2024)
• Sivagami Nagar Gandhi Street & Extn: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Soundarya Nagar

For a 1,000 sq.ft plot in Soundarya Nagar at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% is Rs 1,12,000, and the registration fee at 2% is Rs 32,000, bringing the total fees together to Rs 1,44,000. 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 Soundarya Nagar?

The Sub Registrar Office that covers Soundarya Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Gowrivakkam, the guideline value is a crucial factor that determines the stamp duty and registration fees applicable to the transaction. The guideline value is set by the Registration Department and is updated periodically, reflecting the prevailing market conditions in the area.

At the time of registration, the buyer must pay the stamp duty and registration fees 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 region.

Frequently asked questions

What is the current guideline value of Soundarya Nagar?

The current guideline value of Soundarya Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, representing an overall increase of 256% over the years.

What is the land classification for Soundarya Nagar?

The land classification for Soundarya Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Sub Registrar Office located for Soundarya Nagar?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.