Guideline Value for SUNDARAM 1ST CROSS STREET

Sundaram 1st Cross Street guideline value

The current guideline value of Sundaram 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sundaram 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This increased to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the 2024 revision, the value rose significantly to Rs 2,200 per sq.ft, which is an increase of 64%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Perambur

In Perambur village, there are 1114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, indicating that Sundaram 1st Cross Street's 2024 figure is below this median.

• Sundaram Mudali 1st Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 2nd Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 3rd Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 4th Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 5th Street: Rs 2,200 per sq.ft (2024)
• Sundaram Mudali 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram 1st Cross Street?

The Sub Registrar Office that covers Sundaram 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Perambur. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When you proceed with a property transaction, the guideline value helps in assessing the financial obligations involved. Buyers and sellers must be aware of these values to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Sundaram 1st Cross Street?

The current guideline value of Sundaram 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002.

What is the registration office for Sundaram 1st Cross Street?

The registration office for Sundaram 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

How does the guideline value impact property transactions?

The guideline value impacts property transactions by determining the minimum value for registration, which in turn affects the stamp duty and registration fees. Buyers and sellers must consider these values to ensure compliance with regulations during property transactions.