Guideline Value for SUNDARAMURTHY STREET

Sundaramurthy Street guideline value

The current guideline value for Sundaramurthy Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sundaramurthy Street has changed

Over the years, the guideline value of Sundaramurthy Street has seen significant changes. The 2007 revision recorded a value of Rs 700 per sq.ft, which rose to Rs 2,500 per sq.ft in 2012, marking an increase of 257%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then increased again to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

It is important to note that there are no figures recorded for Sundaramurthy Street in the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 300%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Sundaramurthy Street's 2024 figure below that median.

• Tagore Street: Rs 3,300 per sq.ft (2024)
• Subarayan Street: Rs 3,300 per sq.ft (2024)
• St.Thomas Street: Rs 3,300 per sq.ft (2024)
• Srinivasa Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Srinivasa Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Srinivasa Nagar 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaramurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaramurthy Street?

The Sub Registrar Office that covers Sundaramurthy Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Palavakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is crucial for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the property transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Sundaramurthy Street?

The current guideline value of Sundaramurthy Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, representing a total increase of 300% over the years.

What is the median guideline value in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, which is higher than the current value of Sundaramurthy Street.

What are the stamp duty and registration fees for properties in Sundaramurthy Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office for Sundaramurthy Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.