Guideline Value for Sundar Raj Nagar

Sundar Raj Nagar guideline value

The current guideline value of Sundar Raj Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Ikkadu village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Sundar Raj Nagar has changed

Over the years, the guideline value of Sundar Raj Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 50 per sq.ft. This increased to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017. The 2023 revision maintained the value at Rs 200 per sq.ft, and the current revision for 2024 also remains at Rs 200 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, the value increased by 300%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and there was no change from 2023 to 2024. Overall, the guideline value has increased by 300% from 2007 to 2024.

Guideline values in Ikkadu

In Ikkadu, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. Sundar Raj Nagar's 2024 guideline value is below this median.

• Swathi Nagar: Rs 1,400 per sq.ft (2024)
• Teachers Colony: Rs 500 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Thendral Nagar-(929/1): Rs 100 per sq.ft (2024)
• Sri Sai Nagar: Rs 500 per sq.ft (2024)
• Srinivasa Nagar Annex: Rs 402 per sq.ft (2024)

Stamp duty and registration fee for property in Sundar Raj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. 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 Raj Nagar?

The Sub Registrar Office that covers Sundar Raj Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ikkadu, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sundar Raj Nagar?

The current guideline value of Sundar Raj Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of Sundar Raj Nagar?

The land classification of Sundar Raj Nagar is Residential Class III Type - I.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Sundar Raj Nagar located?

The Sub Registrar Office for Sundar Raj Nagar is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.