Guideline Value for Sundar Nagar

Sundar Nagar guideline value

The current guideline value of Sundar Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sundar Nagar has changed

Over the years, the guideline value of Sundar Nagar has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is an increase from Rs 1,500 per sq.ft in the 2023 revision. Notably, there was no change from the 2012 revision to the 2023 revision, as both were set at Rs 1,500 per sq.ft.

Looking further back, the 2012 revision also recorded a guideline value of Rs 1,500 per sq.ft. The revisions from 2002, 2003, 2007, and 2017 have no figures listed for this street in the register. Overall, the guideline value increased by 7% from 2012 to 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Sundar Nagar's 2024 figure below that median.

• Sundar Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Sudarsan Nagar-Sannathi Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Madampakkam Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Gnanadha Nagar Link Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 9th Street: Rs 3,300 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundar Nagar?

The Sub Registrar Office that covers Sundar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value plays a crucial role during property registration in Madambakkam. It is the minimum value set by the government for properties in a specific area, ensuring that the sale price of a property is not undervalued during registration.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Sundar Nagar?

The current guideline value of Sundar Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, before increasing to Rs 1,600 per sq.ft in 2024. Overall, there has been a 7% increase in the guideline value from 2012 to 2024.

What is the land classification of Sundar Nagar?

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

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

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total cost for these charges would be Rs 1,44,000.

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

The Selaiyur Sub Registrar Office covers Sundar Nagar and is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.