Guideline Value for Sundara Vadivel Nagar

Sundara Vadivel Nagar guideline value

The current guideline value of Sundara Vadivel Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Sundara Vadivel Nagar has changed

The guideline value for Sundara Vadivel Nagar has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012, marking a rise of 333%. However, it dropped to Rs 1,742 per sq.ft in 2017, a decrease of 33%. Following this, the value surged to Rs 2,600 per sq.ft in 2023, reflecting a 49% increase, and currently stands at Rs 2,860 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

The guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 377%.

Guideline values in Mogalivakkam

Mogalivakkam has a total of 98 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft as of 2024. The median guideline value for the village is Rs 2,970 per sq.ft, placing Sundara Vadivel Nagar's current value below this median.

• Subramania Swamy Koil Street: Rs 2,970 per sq.ft (2024)
• SwarnaGanapathy Nagar: Rs 2,860 per sq.ft (2024)
• Subhasri Nagar Extension IV: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension III: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension II: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension I: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Sundara Vadivel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total cost to Rs 2,57,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundara Vadivel Nagar?

The Sub Registrar Office that covers Sundara Vadivel Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property in Mogalivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in establishing a fair price for the transaction, as the stamp duty is calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sundara Vadivel Nagar?

The current guideline value of Sundara Vadivel Nagar is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, showing an overall increase of 377%.

What is the median guideline value in Mogalivakkam?

The median guideline value in Mogalivakkam is Rs 2,970 per sq.ft as of 2024.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in Sundara Vadivel Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.