Guideline Value for SUNDARAM SMART CITY PHASE I

Sundaram Smart City Phase I guideline value

The current guideline value of Sundaram Smart City Phase I is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Selaiyur village under the Selaiyur SRO, with a land classification of Residential Special Type - V.

How the guideline value of Sundaram Smart City Phase I has changed

The guideline value for Sundaram Smart City Phase I has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 3,000 per sq.ft, which increased to Rs 3,300 per sq.ft in the 2024 revision, marking a change of +10%.

In summary, the guideline value has risen from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. This increase reflects the latest valuation and is significant compared to previous revisions, where no figures were available for the specified years.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sundaram Smart City Phase I is above this median.

• Sundaram Colony Andal Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 6th Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 6th Cross Street: Rs 2,900 per sq.ft (2024)
• Sundareswarar Koil Street: Rs 2,200 per sq.ft (2024)
• Sundaram Colony 5th Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 5th Cross Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Smart City Phase I

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, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Smart City Phase I?

The Sub Registrar Office that covers Sundaram Smart City Phase I is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the purchase or sale of a property.

When you register a property, the guideline value is compared against the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and based on the established value of the property.

Frequently asked questions

What is the current guideline value of Sundaram Smart City Phase I?

The current guideline value of Sundaram Smart City Phase I 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 increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a +10% change. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Selaiyur?

Other streets in Selaiyur have varying guideline values, with rates ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft.

What are the fees associated with buying property in Sundaram Smart City Phase I?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,97,000.

Where can I find the Sub Registrar Office for Sundaram Smart City Phase I?

The Sub Registrar Office for Sundaram Smart City Phase I is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details online.