Guideline Value for JUSTICE SUNDARAM SALAI

Justice Sundaram Salai guideline value

The current guideline value of Justice Sundaram Salai is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - II.

How the guideline value of Justice Sundaram Salai has changed

The guideline value for Justice Sundaram Salai has seen several revisions over the years. Starting from Rs 1,020 per sq.ft in 2002, it increased to Rs 1,133 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,540 per sq.ft, reflecting a 36% increase. The next revision in 2012 saw a decrease to Rs 8,500 per sq.ft, a drop of 33% from the previous figure.

In 2017, the guideline value rebounded to Rs 5,695 per sq.ft, representing a significant increase of 49%. The most recent revisions show that in 2023, the value was Rs 8,500 per sq.ft, and it has now risen to Rs 9,300 per sq.ft in 2024, which is a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 812%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Justice Sundaram Salai's 2024 figure above this median.

• Judge Jumbulingam Street: Rs 13,200 per sq.ft (2024)
• Kabaleeswarar East Kulam Street: Rs 8,800 per sq.ft (2024)
• Kabaleeswarar East Mada Street: Rs 13,200 per sq.ft (2024)
• Kabaleeswarar North Mada Street: Rs 11,500 per sq.ft (2024)
• Kabaleeswarar Sannathi Street: Rs 15,400 per sq.ft (2024)
• Kabaleeswarar South Mada Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Justice Sundaram Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Justice Sundaram Salai?

The Justice Sundaram Salai falls under the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures transparency and helps maintain a fair process in property transactions.

Frequently asked questions

What is the current guideline value of Justice Sundaram Salai?

The current guideline value of Justice Sundaram Salai is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,020 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, reflecting an overall increase of 812% over the period.

What are the registration fees for property in Justice Sundaram Salai?

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000, and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

Which Sub Registrar Office covers Justice Sundaram Salai?

The Mylapore Sub Registrar Office covers Justice Sundaram Salai, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Justice Sundaram Salai?

Justice Sundaram Salai is classified as Residential Class III Type - II, indicating its suitability for residential development.