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 Vallancheri 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

Over the years, the guideline value for Sundaram Nagar has seen several revisions. In 2012, the guideline value was set at Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a substantial increase of 49% in the guideline value. When looking at the overall change from 2012 to 2024, there has been a modest increase of 10% in the guideline value, showcasing the fluctuations in property valuations over the years.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that have a guideline value for 2024, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 825 per sq.ft, placing Sundaram Nagar's current value 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 Sai Avenue -III: Rs 660 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. 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 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, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Vallancheri. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable fees.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to accurately assess the costs associated with property transactions. It serves as a benchmark for property valuation and is updated periodically to reflect changes in the real estate market.

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 to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Sundaram Nagar?

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

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

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty is Rs 46,200, and the registration fee is Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Sundaram Nagar located?

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