Guideline Value for Fisherman Colony Sunami Nagar 5th Cross

Fisherman Colony Sunami Nagar 5th Cross guideline value

The current guideline value of Fisherman Colony Sunami Nagar 5th 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 5th Cross has changed

The guideline value for Fisherman Colony Sunami Nagar 5th Cross has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 335 per sq.ft. The value then increased to Rs 500 per sq.ft in 2012, followed by a significant rise to Rs 500 per sq.ft in 2023, marking a 49% increase. The current 2024 revision has further increased the guideline value to Rs 550 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that there are no registered figures for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a net increase of 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 5th Cross is below this median.

• Fisherman Colony Sunami Nagar 4th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 6th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 3rd Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 7th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 2nd Cross: Rs 550 per sq.ft (2024)
• Fisherman Part Nehru Street: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony Sunami Nagar 5th 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, totaling 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 5th Cross?

The Fisherman Colony Sunami Nagar 5th Cross falls under 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 is the benchmark used by the authorities to determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is recorded at a value that reflects the official valuation set by the government. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Fisherman Colony Sunami Nagar 5th Cross?

The current guideline value of Fisherman Colony Sunami Nagar 5th 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 550 per sq.ft in 2024, reflecting an overall increase of 10% over this period. Notably, there was a significant increase of 49% from 2017 to 2023.

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

Several other streets in Mamallapuram share the same guideline value of Rs 550 per sq.ft for 2024, including Fisherman Colony Sunami Nagar 2nd Cross, 3rd Cross, 4th Cross, 6th Cross, and 7th Cross.

What is the stamp duty for a property in Fisherman Colony Sunami Nagar 5th Cross?

The stamp duty for a property valued at Rs 5,50,000 in Fisherman Colony Sunami Nagar 5th Cross would be Rs 38,500, calculated at 7% of the guideline value. The total registration fee would be Rs 49,500 when including the registration fee.

Where can I find the Sub Registrar Office for Fisherman Colony Sunami Nagar 5th Cross?

The Sub Registrar Office that covers Fisherman Colony Sunami Nagar 5th Cross is located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find more details by visiting the relevant website.