Guideline Value for Sundar Nagar first Avenue

Sundar Nagar first Avenue guideline value

The current guideline value of Sundar Nagar first Avenue 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 Avenue has changed

The guideline value for Sundar Nagar first 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, marking a significant rise of 150%. However, this value dropped to Rs 3,350 per sq.ft in 2017, reflecting a decrease of 33%. The value then surged to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision, indicating a 10% increase from the previous year.

There are no registered figures for the years 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 76 streets under the Alandur SRO, with guideline values 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 first Avenue above that median.

• Sundar Nagar First Cross Street: 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 Avenue

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, while the registration fee at 2% would be Rs 1,10,000, resulting in a total of 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundar Nagar first Avenue?

The Sub Registrar Office that covers Sundar Nagar first 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 information.

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 benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation rather than subjective market prices.

Frequently asked questions

What is the current guideline value of Sundar Nagar first Avenue?

The current guideline value of Sundar Nagar first 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 are the other streets in Nandhambakkam with the same guideline value?

Other streets in Nandhambakkam with a guideline value of Rs 5,500 per sq.ft include Sundar Nagar First Cross Street, Sundar Nagar Main, Sundar Nagar 7th Avenue, Sundar Nagar 6th Avenue, Sundar Nagar 5th Avenue, and Sundar Nagar 4th Avenue.

How is stamp duty calculated on properties in Sundar Nagar first Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.

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

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