Guideline Value for Fisherman Colony Sunami Nagar 2nd Cross

Fisherman Colony Sunami Nagar 2nd Cross guideline value

The current guideline value of Fisherman Colony Sunami Nagar 2nd 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 2nd Cross has changed

The guideline value for Fisherman Colony Sunami Nagar 2nd Cross has undergone several revisions since 2012. In 2012, the guideline value was Rs 500 per sq.ft, which remained unchanged until the next revision in 2017, when it dropped to Rs 335 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 500 per sq.ft in 2023, and further rose to Rs 550 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, and when considering the overall change from 2012 to 2024, there has been a 10% increase. The latest figure of Rs 550 per sq.ft places this street below the median guideline value of Rs 935 per sq.ft for other streets in Mamallapuram.

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. The median guideline value for these streets is Rs 935 per sq.ft, indicating that Fisherman Colony Sunami Nagar 2nd Cross is below this median.

• Fisherman Colony Sunami Nagar 1st Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 3rd Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar: Rs 935 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 4th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 5th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Road: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony Sunami Nagar 2nd 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, making the total cost for these fees Rs 49,500. 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 Fisherman Colony Sunami Nagar 2nd Cross?

The Fisherman Colony Sunami Nagar 2nd Cross is covered by the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during 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 when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable fees, which are essential for the legal transfer of ownership. It is important for both parties involved in the transaction to understand how the guideline value affects their financial obligations.

Frequently asked questions

What is the current guideline value for Fisherman Colony Sunami Nagar 2nd Cross?

The current guideline value for Fisherman Colony Sunami Nagar 2nd 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 from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Fisherman Colony Sunami Nagar 2nd Cross?

The land classification for Fisherman Colony Sunami Nagar 2nd Cross is Residential Class V Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office serves this area?

The Thirukazhukundram Sub Registrar Office serves Fisherman Colony Sunami Nagar 2nd Cross, located at Thiruchengode - 637 211, Chengalpattu registration zone.