Guideline Value for Sounder Street

Sounder Street guideline value

The current guideline value of Sounder Street in Menambedu village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Sounder Street has changed

The guideline value for Sounder Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then decreased to Rs 1,072 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023, and most recently to Rs 1,700 per sq.ft in 2024, marking a 6% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 6%. The changes between revisions show a notable increase of 49% from 2017 to 2023, while the 2012 to 2017 period experienced a decrease of 33%. The register has no figure for Sounder Street in the years 2002, 2003, and 2007.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Sounder Street's 2024 figure above that median.

• Sowcar Street: Rs 1,700 per sq.ft (2024)
• Sivagami Ammmal Street: Rs 1,700 per sq.ft (2024)
• Sri Devi Karumariamman Nagar: Rs 1,002 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,001 per sq.ft (2024)
• Shobana Nagar: Rs 1,003 per sq.ft (2024)
• Shobana Avenue Extn.: Rs 1,003 per sq.ft (2024)

Stamp duty and registration fee for property in Sounder Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost to Rs 1,53,000. It is important to note that the 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 Sounder Street?

The Sub Registrar Office that covers Sounder Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Menambedu. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is a standard reference point set by the government for property transactions.

When a property is registered, the guideline value is considered to ensure that the transaction is in line with government regulations. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sounder Street?

The current guideline value of Sounder Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the land classification for Sounder Street?

Sounder Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Sounder Street?

The Sub Registrar Office for Sounder Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Sounder Street?

Stamp duty for properties in Sounder Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 1,19,000.