Guideline Value for SUNDARESAN NAGAR

Sundaresan Nagar guideline value

The current guideline value of Sundaresan Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - II.

How the guideline value of Sundaresan Nagar has changed

The guideline value for Sundaresan Nagar has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, this figure dropped to Rs 1,474 per sq.ft in 2017, before rising again to Rs 2,200 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,420 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 203%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Sundaresan Nagar's 2024 value above this median.

• Subramaniyar Koil 3rd Street: Rs 770 per sq.ft (2024)
• Subramaniyar Koil 2nd Street: Rs 770 per sq.ft (2024)
• Subramaniyar Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Subramaniyar Koil 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Swamy Vivekananda Nagar: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar: Rs 1,925 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 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. 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 Sub Registrar Office that covers Sundaresan Nagar is the Chennai South Joint I 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 more information.

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

The guideline value plays a crucial role in the registration of property transactions in Vanagaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are fairly assessed based on the established values.

Frequently asked questions

What is the current guideline value of Sundaresan Nagar?

The current guideline value of Sundaresan Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of 203% over the years.

What is the median guideline value for streets in Vanagaram?

The median guideline value for streets in Vanagaram is Rs 1,660 per sq.ft, with Sundaresan Nagar's value being above this median.

What are the stamp duty rates for property in Sundaresan Nagar?

The stamp duty rate for property transactions in Sundaresan Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Sundaresan Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.