Guideline Value for SUNDARAM GARDEN I

Sundaram Garden I guideline value

The current guideline value of Sundaram Garden I is Rs 1,100 per sq.ft. This property is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Sundaram Garden I has changed

The guideline value for Sundaram Garden I has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The next revision in 2023 increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, there have been significant changes. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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. Sundaram Garden I's 2024 guideline value of Rs 1,100 per sq.ft is below this median.

• Sundaram Garden - II: Rs 3,300 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 I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 I?

The Sub Registrar Office that covers Sundaram Garden I 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 is a crucial factor in the property registration process in Chemmancheri. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with the legal requirements during the transaction.

When registering a property, the guideline value serves as a benchmark for the transaction value. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. Thus, understanding the guideline value is essential for both buyers and sellers in Chemmancheri.

Frequently asked questions

What is the current guideline value of Sundaram Garden I?

The current guideline value of Sundaram Garden I is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Sundaram Garden I?

The land classification for Sundaram Garden I is Residential Class IV Type - II.

What are the guideline values of other streets in Chemmancheri?

Other streets in Chemmancheri have varying guideline values, with rates ranging from Rs 1,000 to Rs 6,600 per sq.ft. For example, Sundaram Garden - II and Sundaram Garden III are both valued at Rs 3,300 per sq.ft in 2024.

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.