Guideline Value for Sundar Nagar 5th Avenue

Sundar Nagar 5th Avenue guideline value

The current guideline value of Sundar Nagar 5th Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Nandhambakkam village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sundar Nagar 5th Avenue has changed

Over the years, the guideline value for Sundar Nagar 5th Avenue has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 2,000 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a total increase of 175% in the guideline value.

Guideline values in Nandhambakkam

Nandhambakkam features a range of guideline values across its 76 streets under the Alandur SRO, with values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in this village is Rs 3,900 per sq.ft, placing Sundar Nagar 5th Avenue's 2024 figure above this median.

• Sundar Nagar 4th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 6th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 7th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 3rd Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Nagar 5th Avenue

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundar Nagar 5th Avenue?

The Sub Registrar Office that covers Sundar Nagar 5th 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 during the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundar Nagar 5th Avenue?

The current guideline value of Sundar Nagar 5th 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, marking an overall increase of 175% over the years.

What is the median guideline value in Nandhambakkam?

The median guideline value in Nandhambakkam is Rs 3,900 per sq.ft, with Sundar Nagar 5th Avenue's value being above this median.

What are the stamp duty and registration fees for property in Sundar Nagar 5th Avenue?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000 based on the current guideline value.

Which office handles property registrations for Sundar Nagar 5th Avenue?

The Alandur Sub Registrar Office handles property registrations for Sundar Nagar 5th Avenue, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.