Guideline Value for Sowcar Street

Sowcar Street guideline value

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

How the guideline value of Sowcar Street has changed

The guideline value for Sowcar Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,600 per sq.ft. In the 2017 revision, the value decreased to Rs 1,072 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 1,600 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,700 per sq.ft, reflecting a 6% increase from the previous year. Notably, the register has no figures for the revisions in 2002, 2003, and 2007.

Overall, the guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,700 per sq.ft in 2024, resulting in a net increase of 6%. The jump from Rs 1,072 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2023 represents a substantial increase of 49%.

Guideline values in Menambedu

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

• Sounder Street: Rs 1,700 per sq.ft (2024)
• Sri Devi Karumariamman Nagar: Rs 1,002 per sq.ft (2024)
• Sivagami Ammmal Street: Rs 1,700 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 Sowcar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sowcar Street?

The Sub Registrar Office that covers Sowcar 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 is a critical factor when registering property transactions in Menambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions comply with the legal requirements set by the state.

When buying or selling a property, the guideline value influences the stamp duty and registration fees that must be paid. This ensures that the government collects appropriate revenue from property transactions, reflecting the value of the property as determined by the latest revisions.

Frequently asked questions

What is the current guideline value of Sowcar Street?

The current guideline value of Sowcar 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 2012 to Rs 1,700 per sq.ft in 2024, with various fluctuations in between, including a significant increase from Rs 1,072 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2023.

What is the land classification of Sowcar Street?

Sowcar Street is classified as Residential Special Type - I under the land classification guidelines.

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

The Sub Registrar Office for Sowcar 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 Sowcar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000.