Guideline Value for Fisherman Colony Sunami Nagar 7th Cross

Fisherman Colony Sunami Nagar 7th Cross guideline value

The current guideline value of Fisherman Colony Sunami Nagar 7th 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 7th Cross has changed

Over the years, the guideline value of Fisherman Colony Sunami Nagar 7th Cross has undergone several revisions. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is an increase from Rs 500 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 335 per sq.ft, which shows a significant increase of 49% to the 2023 figure. The 2012 revision also had a guideline value of Rs 500 per sq.ft, indicating a decrease of 33% when compared to the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The 2012 figure of Rs 500 per sq.ft remained unchanged until the 2017 revision, which saw a notable increase.

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 7th Cross is below this median.

• Fisherman Colony Sunami Nagar 6th Cross: Rs 550 per sq.ft (2024)
• Fisherman Part Nehru Street: Rs 935 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 5th Cross: Rs 550 per sq.ft (2024)
• Fiva Radha 1,2nd Street: Rs 1,215 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 4th Cross: Rs 550 per sq.ft (2024)
• Fiva radha road: Rs 1,330 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony Sunami Nagar 7th 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 guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Fisherman Colony Sunami Nagar 7th Cross?

The Fisherman Colony Sunami Nagar 7th Cross falls under the jurisdiction of 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 is a crucial factor in property transactions in Mamallapuram, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. It serves as a benchmark to assess the value of the property, ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Fisherman Colony Sunami Nagar 7th Cross?

The current guideline value of Fisherman Colony Sunami Nagar 7th Cross is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, 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%. The most significant change occurred between 2017 and 2023, where the value increased by 49%.

What is the land classification of Fisherman Colony Sunami Nagar 7th Cross?

The land classification for Fisherman Colony Sunami Nagar 7th Cross is Residential Class V Type - I. This classification indicates the type of development allowed in the area.

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

For a property with a guideline value of 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. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Fisherman Colony Sunami Nagar 7th Cross?

The Sub Registrar Office covering Fisherman Colony Sunami Nagar 7th Cross is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find more information about this office online.