Guideline Value for Sundar Nagar Main Road

Sundar Nagar Main Road guideline value

The current guideline value of Sundar Nagar Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024. This road is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Sundar Nagar Main Road has changed

Over the years, the guideline value of Sundar Nagar Main Road has seen significant revisions. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 2,750 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,842 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 2,750 per sq.ft, and the most recent 2024 revision has set it at Rs 3,050 per sq.ft, marking an 11% increase from the previous year.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by 103%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with a 2024 guideline value range from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value is Rs 3,050 per sq.ft, which is equal to the current value of Sundar Nagar Main Road.

• Sundar Nagar 6th Street: Rs 2,750 per sq.ft (2024)
• Sundar Nagar 5th Street: Rs 2,750 per sq.ft (2024)
• Sundar Nagar 4th 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 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value amounts to Rs 30,50,000. The stamp duty at 7% would be Rs 2,13,500, and the registration fee at 2% would be Rs 61,000, bringing the total to Rs 2,74,500. 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 precise calculations.

Which Sub Registrar Office covers Sundar Nagar Main Road?

The Sub Registrar Office covering Sundar Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process in Maduravoyal. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers must be aware that the stamp duty is based on either the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sundar Nagar Main Road?

The current guideline value of Sundar Nagar Main Road is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,050 per sq.ft in 2024, marking an overall increase of 103% over these years.

What is the stamp duty rate for properties in Sundar Nagar Main Road?

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

Where is the Sub Registrar Office for Sundar Nagar Main Road located?

The Sub Registrar Office for Sundar Nagar Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Sundar Nagar Main Road?

Sundar Nagar Main Road is classified as Residential Class III Type - I according to the local land classification regulations.