Guideline Value for Fisherman Colony Sunami Nagar 6th Cross

Fisherman Colony Sunami Nagar 6th Cross guideline value

The current guideline value for Fisherman Colony Sunami Nagar 6th Cross is Rs 550 per sq.ft, effective from 1 July 2024. This street 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 6th Cross has changed

Over the years, the guideline value for Fisherman Colony Sunami Nagar 6th Cross has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. However, the value increased significantly in the following revisions, reaching Rs 500 per sq.ft in 2023 and finally Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision is a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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 value for these streets is Rs 935 per sq.ft, making the 2024 figure for Fisherman Colony Sunami Nagar 6th Cross below the median.

• Fisherman Colony Sunami Nagar 5th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 7th Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 4th Cross: Rs 550 per sq.ft (2024)
• Fisherman Part Nehru Street: Rs 935 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 3rd Cross: Rs 550 per sq.ft (2024)
• Fiva Radha 1,2nd Street: Rs 1,215 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony Sunami Nagar 6th Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total fees Rs 49,500. It is essential 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 precise calculations.

Which Sub Registrar Office covers Fisherman Colony Sunami Nagar 6th Cross?

The Fisherman Colony Sunami Nagar 6th 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 plays a crucial role when buying or selling property in Mamallapuram. It serves as a benchmark for determining the value of the property during registration. Buyers and sellers must ensure that the transaction price aligns with the guideline value to avoid discrepancies during the registration process.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction.

Frequently asked questions

What is the current guideline value for Fisherman Colony Sunami Nagar 6th Cross?

The current guideline value for Fisherman Colony Sunami Nagar 6th 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 increased 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 6th Cross?

The land classification for Fisherman Colony Sunami Nagar 6th Cross is Residential Class V Type - I.

Which Sub Registrar Office covers this area?

The Thirukazhukundram Sub Registrar Office covers Fisherman Colony Sunami Nagar 6th Cross, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 38,500.