Guideline Value for Sundar Nagar 2nd Street

Sundar Nagar 2nd Street guideline value

The current guideline value of Sundar Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sundar Nagar 2nd Street has changed

The guideline value for Sundar Nagar 2nd Street has seen significant changes over the years. In 2002, the guideline value was Rs 133 per sq.ft. This figure increased to Rs 146 per sq.ft in 2003, marking a 10% rise. The value then experienced a substantial increase to Rs 300 per sq.ft in 2007, which represented a 105% increase. Following this, the guideline value surged to Rs 2,500 per sq.ft in 2012, reflecting a remarkable 733% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1968%. It is important to note that there are no figures available for the revisions in years other than those listed.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft as of 2024. The median guideline value in this village is Rs 3,050 per sq.ft, indicating that Sundar Nagar 2nd Street's current value is below this median.

• Sundar Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Sundar Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Sundar Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Sundar Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Sundar Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Sundar Nagar Main Road: Rs 3,050 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundar Nagar 2nd Street?

The Sub Registrar Office that covers Sundar Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in the property registration process in Maduravoyal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value as it influences the overall cost of property transactions. Accurate knowledge of this value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Sundar Nagar 2nd Street?

The current guideline value of Sundar Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 133 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1968%.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, which is higher than the current value of Sundar Nagar 2nd Street.

What are the stamp duty and registration fees for property in Sundar Nagar 2nd Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Sundar Nagar 2nd Street?

The Virugambakkam Sub Registrar Office handles the registration for Sundar Nagar 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.