Guideline Value for Sundar Nagar

Sundar Nagar guideline value

The current guideline value for Sundar Nagar, located in Thalimangalam village under the Chengleput Joint II SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Sundar Nagar has changed

Over the years, the guideline value of Sundar Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 300 per sq.ft in the 2012 revision, marking a 200% rise. However, the 2017 revision saw a decrease to Rs 201 per sq.ft, a drop of 33%. The value then rose to Rs 300 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Thalimangalam

In Thalimangalam village, there are 9 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 500 per sq.ft, with a median value of Rs 400 per sq.ft. Sundar Nagar's 2024 figure is below this median.

• Swami Vivekanandar Nagar: Rs 300 per sq.ft (2024)
• Sri Valli Nagar: Rs 500 per sq.ft (2024)
• Sabari Garden: Rs 400 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Murugan Avenue: Rs 500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, together totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundar Nagar?

The Sub Registrar Office that covers Sundar Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Thalimangalam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sundar Nagar?

The current guideline value of Sundar Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 300 per sq.ft. The value increased from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, before returning to Rs 300 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for properties in Sundar Nagar?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sundar Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Sundar Nagar. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How does the guideline value affect property transactions?

The guideline value is crucial for calculating the stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher amount is used to determine the applicable duties and fees.