Guideline Value for Sowri Street

Sowri Street guideline value

The current guideline value of Sowri Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Alandur village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sowri Street has changed

The guideline value for Sowri Street has seen several revisions over the years. In 2002, the value was Rs 401 per sq.ft, which increased to Rs 436 per sq.ft in 2003, marking a 9% rise. By 2007, the value jumped significantly to Rs 1,000 per sq.ft, reflecting a 129% increase. The 2012 revision saw the value rise to Rs 4,500 per sq.ft, a substantial 350% increase from the previous figure. However, in 2017, it decreased to Rs 3,015 per sq.ft, a drop of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,147%. There are no revisions for this street in the years not mentioned above.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 5,000 per sq.ft, which is equal to the current value of Sowri Street.

• Subba Colony (Subba Reddy Colony): Rs 5,000 per sq.ft (2024)
• Sanniyasi Subedar Street: Rs 5,000 per sq.ft (2024)
• Sanniyasi Nara Lane: Rs 3,900 per sq.ft (2024)
• Thadikkara Swamy Street: Rs 5,000 per sq.ft (2024)
• Reddy Street(Kambar Street): Rs 5,500 per sq.ft (2024)
• U.V. Samynathan Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sowri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. 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 Sowri Street?

The Sub Registrar Office that covers Sowri Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for additional information.

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

The guideline value is a crucial factor during the registration of properties in Alandur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller registers a property, the guideline value ensures that the transaction is documented with an official value recognized by the government. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sowri Street?

The current guideline value of Sowri Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 401 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, representing an overall increase of 1,147% over this period.

What are the stamp duty and registration fees for a property in Sowri Street?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000, and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office covers Sowri Street?

The Alandur Sub Registrar Office covers Sowri Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined in Alandur?

The guideline value in Alandur is determined by the Registration Department's guideline value register. It is based on various factors, including land classification and previous revisions.