Guideline Value for Sowmiya Nagar 9th Cross Street

Sowmiya Nagar 9th Cross Street guideline value

The current guideline value of Sowmiya Nagar 9th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Sowmiya Nagar 9th Cross Street has changed

The guideline value for Sowmiya Nagar 9th Cross Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The guideline value rose by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Sowmiya Nagar 9th Cross Street above this median.

• Sowmiya Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Sowmiya Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Sowmiya Nagar 1st to 24th street: Rs 3,300 per sq.ft (2024)
• Sowmiya Nagar: Rs 3,300 per sq.ft (2024)
• South Chennai Co Operative Nagar: Rs 2,725 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sowmiya Nagar 9th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Sowmiya Nagar 9th Cross Street?

The Sub Registrar Office that covers Sowmiya Nagar 9th Cross Street 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 information.

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

The guideline value plays a crucial role in property transactions in Perumbakkam. It is used to determine the stamp duty and registration fees that are payable when a property is bought or sold. The guideline value is set by the Registration Department and is updated periodically based on various factors.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the current value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Sowmiya Nagar 9th Cross Street?

The current guideline value of Sowmiya Nagar 9th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Perumbakkam with the same guideline value?

Other streets in Perumbakkam with the same guideline value of Rs 3,300 per sq.ft include Sowmiya Nagar 2nd Main Road, Sowmiya Nagar Main Road, Sowmiya Nagar 1st to 24th street, and Sowmiya Nagar.

What is the stamp duty rate for properties in Sowmiya Nagar 9th Cross Street?

The stamp duty rate for properties in Sowmiya Nagar 9th Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sowmiya Nagar 9th Cross Street?

The Sub Registrar Office for Sowmiya Nagar 9th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.