Guideline Value for Sundara Murthy Street

Sundara Murthy Street guideline value

The current guideline value of Sundara Murthy Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sundara Murthy Street has changed

The guideline value for Sundara Murthy Street has undergone several revisions over the years. In 2002, the value was Rs 466 per sq.ft, which increased to Rs 531 per sq.ft in 2003. By 2007, the value saw a significant rise to Rs 900 per sq.ft, followed by a further increase to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft from the 2024 revision.

Between these revisions, there were notable changes. From 2002 to 2024, the overall increase was +737%. The change from 2017 to 2023 was +49%, while the 2023 to 2024 revision saw an increase of +11%. The values for the years 2012 to 2017 saw a decrease of -33%, and from 2007 to 2012, there was an increase of +289%. The values from 2003 to 2007 increased by +69%, and from 2002 to 2003, there was an increase of +14%. The register has no figures for revisions in years not listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the current value of Sundara Murthy Street.

• Surendira Nagar 10th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 11th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 12th Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sundara Murthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundara Murthy Street?

The Sub Registrar Office that covers Sundara Murthy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sundara Murthy Street?

The current guideline value of Sundara Murthy Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 466 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +737% over this period.

What is the land classification for Sundara Murthy Street?

Sundara Murthy Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Sundara Murthy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.