Guideline Value for SUNDARAMBAL NAGAR

Sundarambal Nagar guideline value

The current guideline value of Sundarambal Nagar, located in Vellathukottai village under the Oothukkottai SRO, is Rs 100 per sq.ft. This rate is effective from the 2024 revision, which commenced on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sundarambal Nagar has changed

Over the years, the guideline value of Sundarambal Nagar has seen several revisions. The 2012 revision set the value at Rs 80 per sq.ft, which then decreased to Rs 54 per sq.ft in 2017. This was a decline of 33%. However, the value rose significantly in the following revisions, with the 2023 revision maintaining the value at Rs 100 per sq.ft, and the 2024 revision also set at Rs 100 per sq.ft, marking no change from the previous year.

From 2017 to 2023, the guideline value increased by 85%, and when comparing the 2012 revision to the 2024 revision, there has been an overall increase of 25%. It is important to note that for the years 2002, 2003, and 2007, the register has no figure for this street.

Guideline values in Vellathukottai

In Vellathukottai, there are a total of 7 streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft. The median value for these streets is also Rs 100 per sq.ft, placing Sundarambal Nagar at the same level as the median.

• Subramaniyam Nagar Phase-I: Rs 100 per sq.ft (2024)
• Subramaniyam Nagar Phase-3: Rs 100 per sq.ft (2024)
• Subramaniyam Nagar-II: Rs 100 per sq.ft (2024)
• Valluvan Vasuki Nagar: Rs 100 per sq.ft (2024)
• Vanavil Nagar: Rs 100 per sq.ft (2024)
• Sundarambal Nagar Stage I: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sundarambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, resulting in a total of Rs 9,000. 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 Sundarambal Nagar?

The Sundarambal Nagar area falls under the jurisdiction of the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai registration zone, with the postal code 602026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vellathukottai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sundarambal Nagar?

The current guideline value of Sundarambal Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then to Rs 100 per sq.ft in both 2023 and 2024. The overall change from 2012 to 2024 is an increase of 25%.

What is the land classification for Sundarambal Nagar?

The land classification for Sundarambal Nagar is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Oothukkottai Sub Registrar Office?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, Chennai registration zone, with the postal code 602026.

How is stamp duty calculated in Sundarambal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,000.