Guideline Value for SUNNY VALE

Sunny Vale guideline value

The current guideline value of Sunny Vale, located in Neelankarai village under the Neelankarai SRO, is Rs 6,900 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Mixed Type - III.

How the guideline value of Sunny Vale has changed

The guideline value for Sunny Vale has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which set the value at Rs 4,200 per sq.ft. This was followed by a significant increase to Rs 6,269 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase by 10% to Rs 6,900 per sq.ft.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Sunny Vale's 2024 figure above that median.

• Sunrise Avenue: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 3rd Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 4th Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 5th Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sunny Vale

For a 1,000 sq.ft plot at the current guideline value of Rs 6,900 per sq.ft, the total guideline value amounts to Rs 69,00,000. The stamp duty at 7% would be Rs 4,83,000, and the registration fee at 2% would be Rs 1,38,000, bringing the total fees together to Rs 6,21,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sunny Vale?

Sunny Vale is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Neelankarai. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay the applicable stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the necessary revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sunny Vale?

The current guideline value of Sunny Vale is Rs 6,900 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 4,200 per sq.ft in 2017 to Rs 6,900 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for Sunny Vale?

Sunny Vale is classified as Mixed Type - III, which refers to the type of land use and development allowed in the area.

What are the stamp duty rates for property in Sunny Vale?

The stamp duty rate for property transactions in Sunny Vale is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.