Guideline Value for SUNDAR NAGAR

Sundar Nagar guideline value

The current guideline value of Sundar Nagar, located in Arasankalani village under the Selaiyur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Sundar Nagar has changed

The guideline value for Sundar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. The value then increased to Rs 1,800 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,900 per sq.ft in the 2024 revision, representing a 6% rise.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft, with a median value of Rs 2,100 per sq.ft. The guideline value of Sundar Nagar is below this median.

• Subbulakshmi Street: Rs 1,300 per sq.ft (2024)
• Thazhambur Main Road: Rs 2,100 per sq.ft (2024)
• Thillaiyadi Valliammai Street: Rs 1,300 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 1,300 per sq.ft (2024)
• Sri Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Sri Karumariamman Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Nagar

For a 1,000 sq.ft plot in Sundar Nagar at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundar Nagar?

The Sub Registrar Office covering Sundar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Arasankalani. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Sundar Nagar?

The current guideline value of Sundar Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Sundar Nagar?

Sundar Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property in Sundar Nagar?

The stamp duty rate for property transactions in Sundar Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.