Guideline Value for SUNDARAM NAGAR (WARD -1)

Sundaram Nagar (Ward -1) guideline value

The current guideline value of Sundaram Nagar (Ward -1) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls 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 (Ward -1) has undergone several revisions since 2012. In the 2012 revision, the guideline value was set at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the overall change from the 2012 revision to the 2024 revision shows an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

In Potheri, there are 129 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,970 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, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

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

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

The guideline value plays a crucial role in property transactions in Potheri. It is used to determine the stamp duty and registration fees that are applicable when buying or selling a property. The guideline value is set by the government and is periodically revised to reflect changes in the market.

When you register a property, the guideline value is considered to ensure that the transaction is recorded accurately. It is essential to be aware of the current guideline value to calculate the necessary fees and understand the financial implications of the property transaction.

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 seen various changes, starting from Rs 600 per sq.ft in 2012, dropping to Rs 402 per sq.ft in 2017, and then rising to Rs 600 per sq.ft in 2023, before reaching Rs 660 per sq.ft in 2024.

What is the land classification of Sundaram Nagar (Ward -1)?

Sundaram Nagar (Ward -1) is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in Sundaram Nagar (Ward -1)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sundaram Nagar (Ward -1)?

The Sub Registrar Office for Sundaram Nagar (Ward -1) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.