Guideline Value for SULAPANDIAN STREET

Sulapandian Street guideline value

The current guideline value of Sulapandian Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Sulapandian Street has changed

Over the years, the guideline value of Sulapandian Street has seen several revisions. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,200 per sq.ft. Prior to that, in 2017, the value was Rs 2,144 per sq.ft, reflecting a significant increase of 49% over the six years leading up to 2023. The 2012 revision also recorded a value of Rs 3,200 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no available figures for the revisions in 2002, 2003, and 2007 for Sulapandian Street. Overall, comparing the 2012 and 2024 revisions, there has been a cumulative increase of 10% in the guideline value.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Sulapandian Street is below this median.

• Sulayuthabhan Street: Rs 3,080 per sq.ft (2024)
• Thandavarayan Street: Rs 3,080 per sq.ft (2024)
• Thanigaimalai St: Rs 3,080 per sq.ft (2024)
• Thirugnanasambandam Street: Rs 3,520 per sq.ft (2024)
• Thirukumaran St: Rs 3,080 per sq.ft (2024)
• Thirumal 7th Street (Gandhi Nagar): Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Sulapandian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, leading to a total of Rs 3,16,800. Please note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sulapandian Street?

Sulapandian Street is covered by the Chennai South Joint I Sub Registrar Office, located at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ekkaduthangal. It serves as a reference point for the minimum value at which properties can be registered, ensuring that transactions are recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the agreed sale price.

Frequently asked questions

What is the current guideline value of Sulapandian Street?

The current guideline value of Sulapandian Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,144 per sq.ft in 2017 to Rs 3,520 per sq.ft in 2024, with various revisions in between, including Rs 3,200 per sq.ft in 2023 and 2012.

What is the registration office for Sulapandian Street?

The registration office for Sulapandian Street is the Chennai South Joint I Sub Registrar Office, located at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What fees are associated with buying property in Sulapandian Street?

When buying property, the stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value determines the minimum price at which properties can be registered and is used to calculate the associated stamp duty and registration fees during property transactions.