Guideline Value for SUNDARAM GARDEN - II

Sundaram Garden - II guideline value

The current guideline value of Sundaram Garden - II is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sundaram Garden - II has changed

Over the years, the guideline value of Sundaram Garden - II has seen significant changes. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. However, from 2017 to 2023, the value increased dramatically to Rs 3,000 per sq.ft, marking a rise of 124%. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 65%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Sundaram Garden - II above this median.

• Sundaram Garden I: Rs 1,100 per sq.ft (2024)
• Sundaram Garden III: Rs 3,300 per sq.ft (2024)
• Sundar Garden: Rs 1,000 per sq.ft (2024)
• Subash Chandra Bose Street: Rs 2,800 per sq.ft (2024)
• Tamilnadu Housing Board & Sunami Nagar: Rs 1,100 per sq.ft (2024)
• S.R.P.Nagar: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Garden - II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Sundaram Garden - II?

The Sundaram Garden - II falls under 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 is a critical factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that all parties are aware of the minimum value at which the property can be registered.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sundaram Garden - II?

The current guideline value of Sundaram Garden - II is Rs 3,300 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 3,300 per sq.ft in 2024, showing an overall increase of 65% over this period.

What is the role of the Neelankarai SRO?

The Neelankarai SRO is responsible for property registrations in the Chemmancheri area, including Sundaram Garden - II, and it ensures compliance with local regulations.

How is the stamp duty calculated for properties in Sundaram Garden - II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Where can I find more information about the registration process?

For more information about the registration process and fees, you can visit the Neelankarai SRO or use the stamp duty and registration fee calculator.