Guideline Value for SUNDARESAN NAGAR

Sundaresan Nagar guideline value

The current guideline value of Sundaresan Nagar in Jelandianpettai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Sundaresan Nagar has changed

The guideline value for Sundaresan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, and in 2024, it rose again to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were notable: from 2012 to 2017, there was a decrease of 33%. Following that, the increase from 2017 to 2023 was 49%. Overall, from 2012 to 2024, the guideline value increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making Sundaresan Nagar's 2024 figure above that median.

• Subramani Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Subramani Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaresan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. 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 Sundaresan Nagar?

The Sundaresan Nagar area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Jelandianpettai. It is the value used to calculate stamp duty and registration fees, which are essential costs associated with property transfers.

When buying or selling property, the guideline value ensures a standardized approach to taxation and helps in determining the official value of the property for legal purposes. This value is critical for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Sundaresan Nagar?

The current guideline value of Sundaresan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Sundaresan Nagar?

Sundaresan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, with stamp duty at 7% amounting to Rs 1,92,500 and a registration fee at 2% totaling Rs 55,000, leading to a combined total of Rs 2,47,500.

Where can I find the Sub Registrar Office for Sundaresan Nagar?

The Sub Registrar Office covering Sundaresan Nagar is located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.