Guideline Value for SUNDARARAM NAGAR

Sundararam Nagar guideline value

The current guideline value of Sundararam Nagar, located in Mathuranthagam village, is Rs 1,110 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Sundararam Nagar has changed

Over the years, the guideline value for Sundararam Nagar has seen several revisions. Starting from the 2007 revision, the value was Rs 350 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 186% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,000 per sq.ft in 2023, and most recently, it has increased to Rs 1,110 per sq.ft in 2024, reflecting an 11% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 217%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Sundararam Nagar's 2024 figure is above this median.

• Sunambedu Road, Mariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Tambiran Nagar: Rs 1,110 per sq.ft (2024)
• Subhadra Farm Land & Residency: Rs 1,100 per sq.ft (2024)
• THENRAYAN STREET (a) BHARATHIYAR STREET: Rs 1,110 per sq.ft (2024)
• Sri Saibaba Nagar Extn: Rs 1,105 per sq.ft (2024)
• Sri Ranga Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Sundararam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,110 per sq.ft, the guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, totaling Rs 99,900. It is important to 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 Sundararam Nagar?

The Sub Registrar Office that covers Sundararam Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Mathuranthagam. It serves as the benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Sundararam Nagar?

The current guideline value of Sundararam Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, showing an overall increase of 217% over the years.

What is the land classification of Sundararam Nagar?

Sundararam Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Sundararam Nagar?

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700, and the registration fee would be Rs 22,200, totaling Rs 99,900.

Which office handles property registrations in Sundararam Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Sundararam Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.