Guideline Value for Sundar Nagar

Sundar Nagar guideline value

The current guideline value of Sundar Nagar, located in Padappai village under the Padappai SRO, is Rs 830 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Sundar Nagar has changed

The guideline value for Sundar Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 50 per sq.ft. This figure jumped dramatically to Rs 750 per sq.ft in 2012, marking an increase of 1,400%. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, a decline of 33%. The value then rose to Rs 750 per sq.ft in 2023, reflecting a 49% increase. Finally, the current revision in 2024 set the value at Rs 830 per sq.ft, which is an 11% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,560%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value across these streets is Rs 830 per sq.ft, which is the same as the current guideline value for Sundar Nagar.

• Sundara Vinayagar Koil Street: Rs 830 per sq.ft (2024)
• Sumathi Nagar S.No.320/4, 4a(Part): Rs 830 per sq.ft (2024)
• Sumathi Nagar: Rs 830 per sq.ft (2024)
• Sugh Dev Residency: Rs 3,000 per sq.ft (2024)
• St Nagar: Rs 1,330 per sq.ft (2024)
• StepStone: 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees together to Rs 74,700. 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 details.

Which Sub Registrar Office covers Sundar Nagar?

The Sundar Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning during the transaction process.

When a property is bought or sold, the guideline value helps in establishing the minimum value for registration purposes. This ensures that all transactions are recorded at a fair value, which is essential for maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Sundar Nagar?

The current guideline value of Sundar Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 50 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, which is an overall increase of 1,560%.

What are the other streets with the same guideline value in Padappai?

Other streets in Padappai with the same guideline value of Rs 830 per sq.ft include Sundara Vinayagar Koil Street, Sumathi Nagar S.No.320/4, 4a(Part), and Sumathi Nagar.

How are stamp duty and registration fees calculated in Sundar Nagar?

Stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.

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

The Padappai Sub Registrar Office covers Sundar Nagar and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.