Guideline Value for SUNDARAM STREET

Sundaram Street guideline value

The current guideline value of Sundaram Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sundaram Street has changed

Over the years, the guideline value of Sundaram Street has seen significant changes. In 2002, the guideline value was Rs 1,322 per sq.ft. This figure increased to Rs 1,468 per sq.ft in 2003, marking an increase of 11%. From 2003 to 2007, the value rose by 36%, reaching Rs 2,000 per sq.ft. The next revision in 2012 saw a decrease to Rs 6,000 per sq.ft, a drop of 33% from the previous figure. However, the value increased to Rs 4,020 per sq.ft in 2017, representing a 49% rise. The guideline value then increased to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years not listed in the register. Overall, from 2002 to 2024, the guideline value has increased by 399%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft as of 2024. The median guideline value in this area is Rs 11,000 per sq.ft, placing Sundaram Street's 2024 figure below that median.

• Subbupillai Thottam: Rs 5,500 per sq.ft (2024)
• Thangavalu Street: Rs 6,600 per sq.ft (2024)
• Thanikachalam Road: Rs 17,600 per sq.ft (2024)
• Thanjavur Road: Rs 11,000 per sq.ft (2024)
• Thiagaraya Grammani Street: Rs 8,800 per sq.ft (2024)
• Thilak Street: Rs 11,000 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 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value and 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 Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for calculating the stamp duty and registration fees, which are necessary for legal documentation. Buyers and sellers should be aware of the guideline value to ensure they are prepared for the associated costs during the transaction.

When a property is sold, the guideline value is used to determine the official value of the property for registration purposes. This ensures that the government receives the appropriate fees based on the established guideline value, which reflects the current market conditions in the area.

Frequently asked questions

What is the current guideline value of Sundaram Street?

The current guideline value of Sundaram Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,322 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 399%.

What are the stamp duty rates for property in Sundaram Street?

The stamp duty for property in Sundaram Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sundaram Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What are the guideline values of other streets in Tnagar?

Other streets in Tnagar have varying guideline values, with rates ranging from Rs 4,400 to Rs 27,500 per sq.ft. For example, Thangavalu Street and Sundaram Street both have a 2024 value of Rs 6,600 per sq.ft.