Guideline Value for SUNDARAR STREET (KOIL LAND)

Sundarar Street (Koil Land) guideline value

The current guideline value for Sundarar Street (Koil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Sundarar Street (Koil Land) has changed

Over the years, the guideline value for Sundarar Street (Koil Land) has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,541 per sq.ft. The value then increased to Rs 2,300 per sq.ft in 2023, marking a significant rise of 49% from the previous figure. The most recent revision in 2024 has further increased the guideline value to Rs 2,500 per sq.ft, reflecting a 9% increase from 2023.

It is important to note that the register has no figures for Sundarar Street for the years 2002, 2003, and 2007. Overall, comparing the 2012 and 2024 revisions, there has been a 9% increase in the guideline value.

Guideline values in Padi

In Padi village, there are a total of 354 streets under the Villivakkam SRO that carry a guideline value as of 2024, with values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, indicating that Sundarar Street's 2024 figure is below the median.

• Suriya Apartments: Rs 8,200 per sq.ft (2024)
• Syndicate Bank Colony: Rs 8,700 per sq.ft (2024)
• SYNDICATE BANK COLONY 10th STREET: Rs 8,700 per sq.ft (2024)
• SYNDICATE BANK COLONY 11th STREET: Rs 8,700 per sq.ft (2024)
• Thamarai Kudiyeruppu: Rs 6,600 per sq.ft (2024)
• Thangavel Thottam: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sundarar Street (Koil Land)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty charged at 7% would be Rs 1,75,000, while the registration fee at 2% amounts to Rs 50,000. Therefore, the total cost for stamp duty and registration fee would be Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundarar Street (Koil Land)?

The Sub Registrar Office that covers Sundarar Street (Koil Land) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Padi. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware that the guideline value is the minimum value considered for these calculations.

When a property is registered, the guideline value ensures that the government receives appropriate revenue from the transaction. It is essential for both parties involved in the transaction to understand how this value affects the overall costs associated with property transfers.

Frequently asked questions

What is the current guideline value for Sundarar Street (Koil Land)?

The current guideline value for Sundarar Street (Koil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What is the land classification for Sundarar Street (Koil Land)?

The land classification for Sundarar Street (Koil Land) is Residential Class V Type - I.

Where can I find the Sub Registrar Office for Sundarar Street (Koil Land)?

The Villivakkam Sub Registrar Office covers Sundarar Street (Koil Land) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 25,00,000, the stamp duty at 7% would amount to Rs 1,75,000.