Guideline Value for Suji Chamber

Suji Chamber guideline value

The current guideline value of Suji Chamber in Kolapakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Suji Chamber has changed

The guideline value for Suji Chamber has seen several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The revisions have shown a clear upward trend in the guideline value for Suji Chamber.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current guideline value for Suji Chamber. Below are some of the other streets in Kolapakkam:

• Staling Avenue: Rs 2,200 per sq.ft (2024)
• Sri Thiruvengadam Nagar: Rs 2,200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Thattakulam (ward 1): Rs 1,650 per sq.ft (2024)
• Thirowpathi Amman Nagar: Rs 3,290 per sq.ft (2024)
• Thiruperumal Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Suji Chamber

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Suji Chamber?

The Suji Chamber area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Kolapakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are calculated based on a standardized value.

During the registration process, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will be calculated on the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Suji Chamber?

The current guideline value for Suji Chamber is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% during this period.

What are the other streets in Kolapakkam with similar guideline values?

Other streets in Kolapakkam with a guideline value of Rs 2,200 per sq.ft include Staling Avenue, Sri Thiruvengadam Nagar, and Sri Srinivasa Nagar.

What is the stamp duty rate in Suji Chamber?

The stamp duty rate in Suji Chamber is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Suji Chamber located?

The Sub Registrar Office for Suji Chamber is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, under the Chengalpattu registration zone.