Guideline Value for Sundar Nagar 5th Street

Sundar Nagar 5th Street guideline value

The current guideline value for Sundar Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

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

The guideline value for Sundar Nagar 5th Street has undergone several revisions over the years. In 2002, the value was Rs 133 per sq.ft, which increased to Rs 146 per sq.ft in 2003, marking a 10% rise. By 2007, the value saw a significant jump to Rs 300 per sq.ft, reflecting an increase of 105%. The value then rose dramatically to Rs 2,500 per sq.ft in 2012, a 733% increase from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and then it increased to Rs 2,750 per sq.ft in 2024, representing a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,968% for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for Sundar Nagar 5th Street is below this median.

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

Stamp duty and registration fee for property in Sundar Nagar 5th 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, making the total cost for these fees 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundar Nagar 5th Street?

The Sub Registrar Office that covers Sundar Nagar 5th 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 information.

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

The guideline value is a crucial factor when registering property in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Sundar Nagar 5th 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 increased from Rs 133 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,968% over the years.

What are the registration fees for property in Sundar Nagar 5th Street?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Sundar Nagar 5th Street?

The Virugambakkam Sub Registrar Office handles the registration for Sundar Nagar 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Sundar Nagar 5th Street?

Sundar Nagar 5th Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.