Guideline Value for Sundar Nagar 7th Avenue

Sundar Nagar 7th Avenue guideline value

The current guideline value of Sundar Nagar 7th 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 7th Avenue has changed

The guideline value for Sundar Nagar 7th Avenue has seen 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. However, it dropped to Rs 3,350 per sq.ft in 2017. The value then rose significantly to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the increase was 49%, while from 2012 to 2017, there was a decrease of 33%. The jump from 2007 to 2012 was substantial at 150%. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Nandhambakkam

Nandhambakkam has a range of guideline values across its 76 streets under the Alandur SRO, with figures for 2024 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 7th Avenue above this median.

• Sundar Nagar 6th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar first Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 5th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar First Cross Street: Rs 5,500 per sq.ft (2024)
• Sundar Nagar Main: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 4th Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Nagar 7th 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, charged at 7%, is Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, making the total fees together 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.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sundar Nagar 7th Avenue?

The Sub Registrar Office that covers Sundar Nagar 7th 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sundar Nagar 7th Avenue?

The current guideline value of Sundar Nagar 7th 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 registration office for Sundar Nagar 7th Avenue?

The registration office for Sundar Nagar 7th Avenue is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

What is the median guideline value in Nandhambakkam?

The median guideline value in Nandhambakkam is Rs 3,900 per sq.ft, with Sundar Nagar 7th Avenue being above this median at Rs 5,500 per sq.ft.