Guideline Value for SUNTHARI GARDEN

Sunthari Garden guideline value

The current guideline value of Sunthari Garden in Ramapuram village is Rs 1,950 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Sunthari Garden has changed

Over the years, the guideline value of Sunthari Garden has seen several revisions. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased to Rs 1,750 per sq.ft in 2012. However, there was a significant drop in the 2017 revision, bringing it down to Rs 1,172 per sq.ft. The value then rose to Rs 1,750 per sq.ft in 2023, followed by a further increase to Rs 1,950 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 59% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following this, there was a notable increase of 49% from 2017 to 2023, and a further rise of 11% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 77%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Sunthari Garden's 2024 guideline value is below this median.

• Tamil Nagar: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 1st Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 2nd Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 3rd Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 4th Street: Rs 3,550 per sq.ft (2024)
• Tamil Nagar 5th Street: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Sunthari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sunthari Garden?

The Sub Registrar Office that covers Sunthari Garden 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sunthari Garden?

The current guideline value of Sunthari Garden is Rs 1,950 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 77% over this period.

What are the stamp duty and registration fees for properties in Sunthari Garden?

For a property valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500 and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

Which office handles registrations for Sunthari Garden?

The Chennai South Joint II Sub Registrar Office handles registrations for Sunthari Garden, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Sunthari Garden?

Sunthari Garden is classified as Residential Class III Type - I, indicating its suitability for residential development.