Guideline Value for SUNDARAMOORTHY GRAMINI STREET

Sundaramoorthy Gramini Street guideline value

The current guideline value of Sundaramoorthy Gramini Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sundaramoorthy Gramini Street has changed

The guideline value for Sundaramoorthy Gramini Street has undergone several revisions over the years. The 2017 revision set the value at Rs 3,015 per sq.ft, which was then increased to Rs 4,500 per sq.ft in the 2023 revision. The most recent revision in 2024 saw a further increase to Rs 4,950 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, this represents a significant increase of 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Sundaramoorthy Gramini Street's 2024 figure above this median.

• Syed Kathar Avenue: Rs 4,950 per sq.ft (2024)
• State Bank Colony 4th Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 1st Street: Rs 5,500 per sq.ft (2024)
• SRI VENKATESH NAGAR - Vinayagam Street(S.NO. 20/29): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaramoorthy Gramini Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total costs together to Rs 4,45,500. Please 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 Sundaramoorthy Gramini Street?

The Sub Registrar Office that covers Sundaramoorthy Gramini Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial aspect when buying or selling property in Virugambakkam. It serves as a benchmark for determining the value of the property during registration, ensuring that the property is assessed fairly based on the current market conditions as indicated by the guideline value register.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundaramoorthy Gramini Street?

The current guideline value of Sundaramoorthy Gramini Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,015 per sq.ft in 2017 to Rs 4,500 per sq.ft in 2023, and then to Rs 4,950 per sq.ft in 2024. This marks an overall increase of 64% from 2017 to 2024.

What is the land classification for Sundaramoorthy Gramini Street?

The land classification for Sundaramoorthy Gramini Street is Residential Class II Type - II. This classification affects the guidelines and regulations for property transactions in the area.

Where can I find the relevant Sub Registrar Office?

The relevant Sub Registrar Office for Sundaramoorthy Gramini Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Sundaramoorthy Gramini Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty at 7% would be Rs 3,46,500.