Guideline Value for SUNDARAM NAGAR (WARD -1)

Sundaram Nagar (Ward -1) guideline value

The current guideline value for Sundaram Nagar (Ward -1) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Konathi village under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

How the guideline value of Sundaram Nagar (Ward -1) has changed

The guideline value for Sundaram Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%, indicating a gradual upward trend in the valuation for this street.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Sundaram Nagar's 2024 figure below this median.

• Tagore Phase - 1,2 (Tai): Rs 880 per sq.ft (2024)
• Thailavaram 2nd & 3rd Street (Ward-21): Rs 660 per sq.ft (2024)
• Thailavaram Yerikkarai Thideer (Ward-21): Rs 660 per sq.ft (2024)
• Srm Nagar (Ward-20): Rs 1,320 per sq.ft (2024)
• Thirumurugan Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Sri Ram Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Nagar (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sundaram Nagar (Ward -1)?

The Chengleput Joint II Sub Registrar Office covers Sundaram Nagar (Ward -1). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Konathi. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. The guideline value is considered the minimum value for registration purposes, ensuring that the property is registered at a fair value.

When selling a property, the seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sundaram Nagar (Ward -1)?

The current guideline value of Sundaram Nagar (Ward -1) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Sundaram Nagar?

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

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.