Guideline Value for SUNDARASWARAR KOIL 1ST LANE

Sundaraswarar Koil 1st Lane guideline value

The current guideline value of Sundaraswarar Koil 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sundaraswarar Koil 1st Lane has changed

The guideline value for Sundaraswarar Koil 1st Lane has seen several revisions over the years. In 2002, the guideline value was Rs 612 per sq.ft. This increased to Rs 766 per sq.ft in 2003, marking a 25% rise. The value then rose significantly to Rs 1,300 per sq.ft in 2007, reflecting a 70% increase. By 2012, the value was Rs 4,000 per sq.ft, which represented a substantial 208% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 619%. There are no figures available for the revisions in years other than those listed.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Sundaraswarar Koil 1st Lane.

• Sundaraswarar Koil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil St (A) Sowndares Warar Koil Street: Rs 4,400 per sq.ft (2024)
• Subramania Swamy Koil Street: Rs 4,950 per sq.ft (2024)
• Subramania Mudali Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar Street: Rs 3,300 per sq.ft (2024)
• Sowndareeswarar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaraswarar Koil 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaraswarar Koil 1st Lane?

The Sundaraswarar Koil 1st Lane is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration of property transactions in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sundaraswarar Koil 1st Lane?

The current guideline value of Sundaraswarar Koil 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 612 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 619% over the years.

What is the registration office for Sundaraswarar Koil 1st Lane?

The registration office for Sundaraswarar Koil 1st Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for properties in Sundaraswarar Koil 1st Lane?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

What is the land classification for Sundaraswarar Koil 1st Lane?

Sundaraswarar Koil 1st Lane is classified as Residential Class II Type - II, which is relevant for determining the guideline value and other regulatory aspects.