Guideline Value for SULOCHANA NAGAR

Sulochana Nagar guideline value

The current guideline value of Sulochana Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-A village under the Kunrathur SRO, classified as Mixed Special Type - III.

How the guideline value of Sulochana Nagar has changed

The guideline value for Sulochana Nagar has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 1,600 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,072 per sq.ft, marking a significant increase of 49% to the 2023 figure. The register has no figures for the years 2012, 2007, 2003, and 2002 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This consistent rise highlights the changing dynamics of property valuation in the area.

Guideline values in Kunrathour-A

In Kunrathour-A, there are 45 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,210 to Rs 5,123 per sq.ft. The median guideline value for these streets is Rs 1,760 per sq.ft, which is equal to the 2024 figure for Sulochana Nagar.

• Subramanyapuram: Rs 1,800 per sq.ft (2024)
• Sri Vijayalakshmi Garden @ Temple City: Rs 2,160 per sq.ft (2024)
• Temple View Garden: Rs 1,800 per sq.ft (2024)
• Sri Sakthi Amman Nagar Extension: Rs 3,025 per sq.ft (2024)
• The Temple Town: Rs 1,540 per sq.ft (2024)
• Sri Chakra Nagar: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Sulochana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making a total of Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sulochana Nagar?

The Sub Registrar Office that covers Sulochana Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-A

The guideline value plays a crucial role during the registration of property transactions in Kunrathour-A. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the prevailing property values in the area.

Frequently asked questions

What is the current guideline value of Sulochana Nagar?

The current guideline value of Sulochana Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 64%. The most recent change was a 10% increase from the 2023 figure of Rs 1,600 per sq.ft.

What are the other streets in Kunrathour-A?

Other streets in Kunrathour-A include Subramanyapuram, Sri Vijayalakshmi Garden @ Temple City, Temple View Garden, Sri Sakthi Amman Nagar Extension, The Temple Town, and Sri Chakra Nagar, with varying guideline values.

How is the stamp duty calculated in Sulochana Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 at 7%.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069, or by using the provided link to find your SRO.