Guideline Value for Road Street

Road Street guideline value

The current guideline value of Road Street in Kunnam village, under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Road Street has changed

Looking at the revisions of the guideline value for Road Street, the register shows no figures for the years 2002, 2003, and 2007. In the 2012 revision, the guideline value was Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in the 2017 revision, marking a decline of 33%. The value increased by 24% to Rs 250 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision.

Overall, from 2012 to 2024, the guideline value has decreased by 17%. The current guideline value of Rs 250 per sq.ft in 2024 is the same as the 2023 figure, indicating stability in the recent revisions.

Guideline values in Kunnam

In Kunnam village, there are 18 streets under the Sunguvarchattram SRO that have a 2024 guideline value, ranging from Rs 181 to Rs 660 per sq.ft. The median value of these streets is Rs 200 per sq.ft, placing Road Street's 2024 figure above that median.

• Prabu metha nagar: Rs 200 per sq.ft (2024)
• Perumal Kovil Street: Rs 181 per sq.ft (2024)
• Solai Street: Rs 181 per sq.ft (2024)
• New Colony: Rs 181 per sq.ft (2024)
• SriSakthi Nagar: Rs 350 per sq.ft (2024)
• Srivari Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Road Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Road Street?

The Sub Registrar Office that covers Road Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kunnam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in real estate transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Road Street?

The current guideline value of Road Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Road Street has seen several revisions, with the most recent being Rs 250 per sq.ft in 2023 and 2024. The value decreased from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017 before increasing again in the latest revisions.

What is the land classification for Road Street?

Road Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Road Street?

The Sub Registrar Office covering Road Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 2,50,000, the stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000.