Guideline Value for SUNDARASWARAR KOIL ST (A) SOWNDARES WARAR KOIL STREET

Sundaraswarar Koil St (A) Sowndares Warar Koil Street guideline value

The current guideline value of Sundaraswarar Koil St (A) Sowndares Warar Koil Street 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 St (A) Sowndares Warar Koil Street has changed

The guideline value for Sundaraswarar Koil St (A) Sowndares Warar Koil Street has seen several revisions over the years. The earliest recorded value was Rs 766 per sq.ft in 2003. This increased to Rs 1,300 per sq.ft in 2007, marking a significant rise of 70%. In 2012, the value was revised to Rs 4,000 per sq.ft, reflecting a remarkable increase of 208%. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised the guideline value to Rs 4,000 per sq.ft, which further increased by 10% to Rs 4,400 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 474%. It is important to note that there is no figure available for the year 2002 in the register for this street.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value for Sundaraswarar Koil St (A) Sowndares Warar Koil Street.

• Sundaraswarar Koil 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sundaraswarar Koil 1st Lane: 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 St (A) Sowndares Warar Koil Street

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 is charged at 7%, which totals Rs 3,08,000, and the registration fee is 2%, amounting to Rs 88,000. Together, these fees total Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sundaraswarar Koil St (A) Sowndares Warar Koil Street?

The Sundaraswarar Koil St (A) Sowndares Warar Koil Street 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, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sundaraswarar Koil St (A) Sowndares Warar Koil Street?

The current guideline value of Sundaraswarar Koil St (A) Sowndares Warar Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 766 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 474% over the years.

What is the land classification for Sundaraswarar Koil St (A) Sowndares Warar Koil Street?

The land classification for Sundaraswarar Koil St (A) Sowndares Warar Koil Street is Residential Class II Type - II.

Which Sub Registrar Office covers this street?

The Chennai South Joint II Sub Registrar Office covers Sundaraswarar Koil St (A) Sowndares Warar Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

The stamp duty for properties in Sundaraswarar Koil St (A) Sowndares Warar Koil Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.