Guideline Value for Sundar Nagar First Cross Street

Sundar Nagar First Cross Street guideline value

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

How the guideline value of Sundar Nagar First Cross Street has changed

The guideline value for Sundar Nagar First Cross Street 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 then decreased to Rs 3,350 per sq.ft in 2017. From 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 5,000 per sq.ft. The latest revision in 2024 saw another increase of 10%, setting the current value at Rs 5,500 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which means that Sundar Nagar First Cross Street's 2024 figure is above this median.

• Sundar Nagar first Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar Main: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 7th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 6th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 5th Avenue: 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 First Cross Street

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

Which Sub Registrar Office covers Sundar Nagar First Cross Street?

The Sub Registrar Office that covers Sundar Nagar First Cross Street 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 plays a crucial role in the registration of properties in Nandhambakkam. 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 property transactions.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are documented accurately and that the appropriate fees are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value for Sundar Nagar First Cross Street?

The current guideline value for Sundar Nagar First Cross Street 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 a total increase of 175% over the years.

What is the registration office for Sundar Nagar First Cross Street?

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

How is stamp duty calculated for properties in Sundar Nagar First Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty would be calculated at 7% of that amount.

What are the other streets in Nandhambakkam with similar guideline values?

Other streets in Nandhambakkam under the Alandur SRO have a guideline value of Rs 5,500 per sq.ft as well, including Sundar Nagar first Avenue, Sundar Nagar Main, Sundar Nagar 7th Avenue, Sundar Nagar 6th Avenue, Sundar Nagar 5th Avenue, and Sundar Nagar 4th Avenue.