Guideline Value for Fisherman Colony Sunami Nagar 1st Cross

Fisherman Colony Sunami Nagar 1st Cross guideline value

The current guideline value for Fisherman Colony Sunami Nagar 1st Cross is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Mamallapuram village, under the Thirukazhukundram SRO, and is classified as Residential Class V Type - I.

How the guideline value of Fisherman Colony Sunami Nagar 1st Cross has changed

The guideline value for Fisherman Colony Sunami Nagar 1st Cross has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 500 per sq.ft. Prior to that, in 2017, the value was Rs 335 per sq.ft, marking a significant increase of 49% over the six years until 2023. The 2012 revision had set the value at Rs 500 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value for Fisherman Colony Sunami Nagar 1st Cross is below this median.

• Fisherman Colony Sunami Nagar: Rs 935 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 2nd Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 3rd Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Road: Rs 1,210 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 4th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony 6th Cross Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony Sunami Nagar 1st Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Fisherman Colony Sunami Nagar 1st Cross?

The Fisherman Colony Sunami Nagar 1st Cross falls under the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Mamallapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is used to calculate the necessary fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Fisherman Colony Sunami Nagar 1st Cross?

The current guideline value for Fisherman Colony Sunami Nagar 1st Cross is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase of 10% from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024. The value was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What is the land classification for Fisherman Colony Sunami Nagar 1st Cross?

The land classification for Fisherman Colony Sunami Nagar 1st Cross is Residential Class V Type - I.

Where can I find the registration office for this area?

The registration office for Fisherman Colony Sunami Nagar 1st Cross is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000, leading to specific fees based on that value.