Guideline Value for Sundar Nagar Main

Sundar Nagar Main guideline value

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

How the guideline value of Sundar Nagar Main has changed

The guideline value for Sundar Nagar Main has undergone several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase to Rs 5,000 per sq.ft in 2023, followed by another increase to Rs 5,500 per sq.ft in 2024, a change of 10%.

From 2017 to 2023, the guideline value increased by 49%. When looking at the overall change from 2007 to 2024, the guideline value has risen by 175%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

In Nandhambakkam, there are 76 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft, with a median value of Rs 3,900 per sq.ft. Sundar Nagar Main's 2024 guideline value of Rs 5,500 per sq.ft is above this median.

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

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, calculated at 7%, would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that 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 details.

Which Sub Registrar Office covers Sundar Nagar Main?

The Sub Registrar Office that covers Sundar Nagar Main 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 in the property registration process in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as determined by the Registration Department. This helps maintain transparency and accountability in the real estate sector.

Frequently asked questions

What is the current guideline value for Sundar Nagar Main?

The current guideline value for Sundar Nagar Main 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 several times, starting 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 land classification for Sundar Nagar Main?

Sundar Nagar Main is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable to properties in Sundar Nagar Main?

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

Where can I find the Sub Registrar Office for Sundar Nagar Main?

The Alandur Sub Registrar Office, which covers Sundar Nagar Main, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.