Guideline Value for Sundar Nagar 3rd Avenue

Sundar Nagar 3rd Avenue guideline value

The current guideline value of Sundar Nagar 3rd Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village under the Alandur SRO and is classified as Residential Class I Type - I.

How the guideline value of Sundar Nagar 3rd Avenue has changed

The guideline value for Sundar Nagar 3rd Avenue has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a significant rise of 150%. However, it decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value then saw a substantial increase to Rs 5,000 per sq.ft in 2023, followed by another increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a total increase of 175%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam village has a range of guideline values for its streets, with 76 streets under the Alandur SRO carrying a 2024 figure ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Sundar Nagar 3rd Avenue's 2024 figure above that median.

• Sundar Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 2nd Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 4th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 5th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 6th Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Nagar 3rd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is charged at 7%, which totals Rs 3,85,000, and the registration fee is charged at 2%, amounting to Rs 1,10,000. Together, the total charges come to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundar Nagar 3rd Avenue?

The Sub Registrar Office that covers Sundar Nagar 3rd Avenue is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nandhambakkam, as it determines the minimum value at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, if the sale price of the property is higher than the guideline value, the stamp duty will be charged on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundar Nagar 3rd Avenue?

The current guideline value of Sundar Nagar 3rd Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the stamp duty rate for properties in Sundar Nagar 3rd Avenue?

The stamp duty rate for properties in Sundar Nagar 3rd Avenue is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sundar Nagar 3rd Avenue?

The Sub Registrar Office covering Sundar Nagar 3rd Avenue is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Nandhambakkam with the same guideline value?

Other streets in Nandhambakkam with the same guideline value of Rs 5,500 per sq.ft include Sundar Nagar 3rd Cross Street, Sundar Nagar 2nd Cross Street, Sundar Nagar 2nd Avenue, Sundar Nagar 4th Avenue, Sundar Nagar 5th Avenue, and Sundar Nagar 6th Avenue.