Guideline Value for Suncity

Suncity guideline value

The current guideline value of Suncity, located in Kaval Kazhani village, is Rs 300 per sq.ft, effective from the 2024 revision. This area falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Suncity has changed

The guideline value for Suncity has undergone several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased to Rs 300 per sq.ft in 2012, marking a 100% rise. However, by 2017, the value decreased to Rs 201 per sq.ft, reflecting a decline of 33%. The value then increased significantly to Rs 300 per sq.ft in 2023, and remained unchanged at Rs 300 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Kaval Kazhani

In Kaval Kazhani village, there are 20 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 226 to Rs 1,550 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which is equal to the current value of Suncity.

• Suncity I,II: Rs 300 per sq.ft (2024)
• Teachers VIP Layout: Rs 400 per sq.ft (2024)
• Sri Sheshadhri Avenue: Rs 400 per sq.ft (2024)
• Thirumagal Nagar: Rs 226 per sq.ft (2024)
• Thirumalai nagar phase-III: Rs 400 per sq.ft (2024)
• Thirumal Nagar Extension: Rs 226 per sq.ft (2024)

Stamp duty and registration fee for property in Suncity

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Suncity?

The Sub Registrar Office that covers Suncity is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kaval Kazhani. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is considered to ascertain the appropriate fees. This value helps in establishing a baseline for the transaction, ensuring that all parties adhere to the necessary regulations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Suncity?

The current guideline value of Suncity is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and increased back to Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Kaval Kazhani?

The median guideline value in Kaval Kazhani is Rs 300 per sq.ft, which is the same as the current value for Suncity.

What are the stamp duty rates for property in Suncity?

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

Where can I find the Sub Registrar Office for Suncity?

The Sub Registrar Office for Suncity is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.