Guideline Value for Sugan Raj Street (Vetri Nagar)

Sugan Raj Street (Vetri Nagar) guideline value

The current guideline value of Sugan Raj Street (Vetri Nagar) is Rs 3,301 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Sugan Raj Street (Vetri Nagar) has changed

Over the years, the guideline value of Sugan Raj Street has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. From 2017 to 2023, the value rose substantially by 49% to reach Rs 3,000 per sq.ft, and the latest revision in 2024 saw it increase by 10% to Rs 3,301 per sq.ft.

It is important to note that there are no figures available for Sugan Raj Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 372%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the guideline value of Sugan Raj Street.

• Sundaram Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Sundararaja Perumal Colony 10th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 11th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 12th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 13th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 14th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sugan Raj Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020. The total cost for stamp duty and registration would be Rs 2,97,090. 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 more details.

Which Sub Registrar Office covers Sugan Raj Street (Vetri Nagar)?

The Sub Registrar Office that covers Sugan Raj Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Peravallur. It serves as a benchmark for determining the minimum value of a property, ensuring that the stamp duty and registration fees are calculated accurately based on this value.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is crucial for buyers to be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sugan Raj Street (Vetri Nagar)?

The current guideline value of Sugan Raj Street (Vetri Nagar) is Rs 3,301 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 372%.

What is the land classification of Sugan Raj Street (Vetri Nagar)?

Sugan Raj Street (Vetri Nagar) is classified as Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Sugan Raj Street (Vetri Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price, with the current rate being 7% of the guideline value.