Guideline Value for Sundar nagar

Sundar nagar guideline value

The current guideline value of Sundar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II 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 the 2007 revision, the value was Rs 500 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 300%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, representing a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by another rise to the current value of Rs 2,200 per sq.ft in 2024, an increase of 10%.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current value of Sundar Nagar.

• Sundar Nagar Extension: Rs 2,210 per sq.ft (2024)
• Sumithra nagar: Rs 2,200 per sq.ft (2024)
• Sweeper line: Rs 2,200 per sq.ft (2024)
• Tamizh nagar: Rs 2,200 per sq.ft (2024)
• Tangaal kaarai kosa street: Rs 2,200 per sq.ft (2024)
• Tangaal Kaarai Mettu Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the 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 nagar?

The Sub Registrar Office that covers Sundar Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Poonthamallee. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value is considered to determine the applicable taxes. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Sundar nagar?

The current guideline value of Sundar Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various revisions occurring in between.

What are the stamp duty rates for property in Sundar nagar?

The stamp duty rate for property in Sundar Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registration in Sundar nagar?

The Poonamallee Sub Registrar Office handles property registration for Sundar Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the significance of the guideline value?

The guideline value is essential for determining the stamp duty and registration fees during property transactions, ensuring compliance with government regulations.