Guideline Value for SULAYUTHABHAN STREET

Sulayuthabhan Street guideline value

The current guideline value of Sulayuthabhan Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sulayuthabhan Street has changed

The guideline value for Sulayuthabhan Street has seen several revisions over the years. In 2002, the value was Rs 350 per sq.ft. This increased to Rs 404 per sq.ft in 2003, marking a 15% rise. By 2007, the value jumped significantly to Rs 700 per sq.ft, reflecting a 73% increase. The 2012 revision saw the value rise to Rs 2,800 per sq.ft, a substantial 300% increase from the previous revision. However, in 2017, the value decreased to Rs 1,876 per sq.ft, showing a decline of 33%. The value then rose to Rs 2,800 per sq.ft in 2023, before reaching the current figure of Rs 3,080 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from the initial value in 2002 to the current value in 2024, there has been a significant increase of 780%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry 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 for Sulayuthabhan Street is below this median.

• Sulapandian Street: Rs 3,520 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 Sulayuthabhan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty, charged at 7%, would amount to Rs 2,15,600, while the registration fee at 2% would be Rs 61,600. Together, the total cost for stamp duty and registration would be Rs 2,77,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sulayuthabhan Street?

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

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

The guideline value is a crucial factor when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and financial purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sulayuthabhan Street?

The current guideline value of Sulayuthabhan Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, showing a total increase of 780% over the years.

What is the land classification for Sulayuthabhan Street?

Sulayuthabhan Street is classified as Residential Class IV Type - I.

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

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

How is stamp duty calculated for properties in Ekkaduthangal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 30,80,000, the stamp duty would be Rs 2,15,600 at a rate of 7%.