Guideline Value for Sulochana Nagar

Sulochana Nagar guideline value

The current guideline value of Sulochana Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sulochana Nagar has changed

The guideline value for Sulochana Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017. The 2023 revision saw an increase to Rs 900 per sq.ft, and the most recent 2024 revision set the value at Rs 990 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Sulochana Nagar's 2024 figure below this median.

• Sundarapuri Nagar: Rs 990 per sq.ft (2024)
• Sundar Nagar: Rs 1,650 per sq.ft (2024)
• Sundar Nagar Extn: Rs 1,980 per sq.ft (2024)
• Tambaram - Kishkintha Road: Rs 1,650 per sq.ft (2024)
• Tambaram - Manimangalam Road: Rs 1,320 per sq.ft (2024)
• Sri Vimal Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sulochana Nagar

For a 1,000 sq.ft plot at the current rate of Rs 990 per sq.ft, the guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sulochana Nagar?

The Sub Registrar Office that covers Sulochana Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, 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 the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Sulochana Nagar?

The current guideline value of Sulochana Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with Rs 900 per sq.ft in 2012, decreasing to Rs 603 per sq.ft in 2017, then increasing back to Rs 900 per sq.ft in 2023, and finally reaching Rs 990 per sq.ft in 2024.

What is the land classification for Sulochana Nagar?

Sulochana Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Sulochana Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 9,90,000, the stamp duty at 7% would be Rs 69,300.