Guideline Value for SUNDARAM STREET

Sundaram Street guideline value

The current guideline value of Sundaram Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Sundaram Street has changed

The guideline value for Sundaram Street has undergone several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which saw a significant increase to Rs 1,300 per sq.ft in 2012. However, this value dropped to Rs 871 per sq.ft in 2017, before rising again to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most substantial rise occurred from 2007 to 2012, with an increase of 767%. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a guideline value for 2024, ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in this village is Rs 1,000 per sq.ft, placing Sundaram Street's 2024 figure above the median.

• Subramania Siva Street: Rs 800 per sq.ft (2024)
• Thangadurai Street: Rs 800 per sq.ft (2024)
• Thangavel Reddy Street: Rs 1,300 per sq.ft (2024)
• Theeran Sivalingam Street: Rs 800 per sq.ft (2024)
• Sriperumpudur Main Salai-II (Sampandanar Street Part To Sri Ganesh Mahal Kalyana Mandapam): Rs 2,000 per sq.ft (2024)
• Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaram Street?

The Sub Registrar Office that covers Sundaram Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sundaram Street?

The current guideline value of Sundaram Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, with various revisions in between.

What is the land classification of Sundaram Street?

Sundaram Street is classified as Commercial Class I Type - III, which reflects its intended use and development potential.

Where can I find the Sub Registrar Office for Sundaram Street?

The Sub Registrar Office for Sundaram Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Sundaram Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.