Guideline Value for SUNDARAM GARDEN III

Sundaram Garden III guideline value

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

How the guideline value of Sundaram Garden III has changed

The guideline value for Sundaram Garden III has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has raised it further to Rs 3,300 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, while it saw a substantial increase of 49% from 2017 to 2023. The jump from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 10% from 2012 to 2024.

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 value for these streets is Rs 1,700 per sq.ft, placing Sundaram Garden III's 2024 figure above that median.

• Sundaram Garden - II: Rs 3,300 per sq.ft (2024)
• Sundaram Garden I: Rs 1,100 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 III

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaram Garden III?

The Sundaram Garden III property is covered by 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 minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in official documents.

When buying or selling property, the guideline value is used to calculate applicable fees, such as stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sundaram Garden III?

The current guideline value of Sundaram Garden III 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Sundaram Garden III?

Sundaram Garden III is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Sundaram Garden III?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Sundaram Garden III?

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