Guideline Value for SUNDARASWARAR KOIL 2ND LANE

Sundaraswarar Koil 2nd Lane guideline value

The current guideline value of Sundaraswarar Koil 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sundaraswarar Koil 2nd Lane has changed

The guideline value for Sundaraswarar Koil 2nd Lane has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 612 per sq.ft. This value increased to Rs 766 per sq.ft in 2003, marking a 25% rise. The value continued to grow significantly, reaching Rs 1,300 per sq.ft in 2007, which was a 70% increase from the previous year. In 2012, the guideline value was Rs 4,000 per sq.ft, reflecting a substantial 208% increase from 2007. However, it then decreased to Rs 2,680 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 4,000 per sq.ft, resulting in a 49% rise. The most recent revision in 2024 has set the value at Rs 4,400 per sq.ft, which is a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 619%.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which is equal to the current value of Sundaraswarar Koil 2nd Lane.

• Sundaraswarar Koil 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total amount for stamp duty and registration fees would be Rs 3,96,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Sundaraswarar Koil 2nd Lane?

The Sub Registrar Office that covers Sundaraswarar Koil 2nd 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. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not sold below a certain price.

When a property transaction occurs, the stamp duty and registration fees are calculated based on this 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 Sundaraswarar Koil 2nd Lane?

The current guideline value of Sundaraswarar Koil 2nd 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 multiple times, starting 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 land classification for Sundaraswarar Koil 2nd Lane?

The land classification for Sundaraswarar Koil 2nd Lane is Residential Class II Type - II.

What are the stamp duty and registration fees for a property in this lane?

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

Where is the Sub Registrar Office for Sundaraswarar Koil 2nd Lane located?

The Sub Registrar Office for Sundaraswarar Koil 2nd Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.