Guideline Value for SUNDAR GARDEN

Sundar Garden guideline value

The current guideline value of Sundar Garden, located in Chemmancheri village, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class V Type - II, and it falls under the Neelankarai SRO.

How the guideline value of Sundar Garden has changed

The guideline value for Sundar Garden has seen several revisions over the years. In the 2012 revision, the value was set at Rs 750 per sq.ft. This increased to Rs 502 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,000 per sq.ft, reflecting an increase of 99%. The most recent revision in 2024 maintained this value at Rs 1,000 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Sundar Garden is below this median.

• Sundaram Garden III: Rs 3,300 per sq.ft (2024)
• Sundaram Garden - II: Rs 3,300 per sq.ft (2024)
• Sundaram Garden I: Rs 1,100 per sq.ft (2024)
• Tamilnadu Housing Board & Sunami Nagar: Rs 1,100 per sq.ft (2024)
• Subash Chandra Bose Street: Rs 2,800 per sq.ft (2024)
• Telugu Cherrinathan: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, leading to a total of Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sundar Garden?

The Sub Registrar Office that covers Sundar Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates rather than arbitrary figures.

When buying or selling property, the guideline value is used to assess the official value of the property, which is essential for legal documentation and compliance with local regulations. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sundar Garden?

The current guideline value of Sundar Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 1,000 per sq.ft in 2024, with a significant increase of 99% from 2017 to 2023.

What is the land classification for Sundar Garden?

The land classification for Sundar Garden is Residential Class V Type - II, indicating its suitability for residential purposes.

What are the other streets in Chemmancheri with their guideline values?

Other streets in Chemmancheri include Sundaram Garden III and Sundaram Garden - II, both at Rs 3,300 per sq.ft, and Sundaram Garden I at Rs 1,100 per sq.ft, among others.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.