Guideline Value for Sundara Vinayagar Koil 1st Street

Sundara Vinayagar Koil 1st Street guideline value

The current guideline value for Sundara Vinayagar Koil 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village under the Sembiam SRO, classified as Residential Class III Type - I.

How the guideline value of Sundara Vinayagar Koil 1st Street has changed

The guideline value for Sundara Vinayagar Koil 1st Street has seen several revisions over the years. In 2002, the guideline value was Rs 375 per sq.ft. This increased to Rs 412 per sq.ft in 2003, marking a 10% rise. The value then experienced a significant jump to Rs 1,000 per sq.ft in 2007, reflecting a 143% increase. In 2012, the value was Rs 1,800 per sq.ft, which was an 80% increase from the previous revision. However, the value dropped to Rs 1,206 per sq.ft in 2017, indicating a decrease of 33%. The guideline value rose again to Rs 1,800 per sq.ft in 2023, and finally reached Rs 1,900 per sq.ft in 2024, reflecting a 6% increase.

Overall, from 2002 to 2024, the guideline value has increased by 407%. The register has no figures for the years between 2012 and 2017 for this street.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft, with the median value being Rs 1,900 per sq.ft. Sundara Vinayagar Koil 1st Street's 2024 figure aligns perfectly with this median.

• Sundara Vinayagar Koil 1st Lane: Rs 1,600 per sq.ft (2024)
• Sundara Vinayagar Koil 2nd Lane: Rs 1,600 per sq.ft (2024)
• Sundara Vinayagar Koil 2nd Street: Rs 1,900 per sq.ft (2024)
• Tank Lane Street: Rs 1,900 per sq.ft (2024)
• Thatchar Street: Rs 1,900 per sq.ft (2024)
• Thimmasamy Dharka 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sundara Vinayagar Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total fees Rs 1,71,000. Please 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 Sundara Vinayagar Koil 1st Street?

The Sub Registrar Office that covers Sundara Vinayagar Koil 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Siruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is important for buyers to be aware of this value to avoid overpaying and for sellers to set realistic expectations regarding pricing.

Frequently asked questions

What is the current guideline value of Sundara Vinayagar Koil 1st Street?

The current guideline value of Sundara Vinayagar Koil 1st Street is Rs 1,900 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 375 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 407% over the years.

What is the registration office for Sundara Vinayagar Koil 1st Street?

The registration office for Sundara Vinayagar Koil 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,71,000.

What are the other streets in Siruvallur with similar guideline values?

Other streets in Siruvallur include Sundara Vinayagar Koil 1st Lane and Sundara Vinayagar Koil 2nd Lane, both valued at Rs 1,600 per sq.ft, as well as Sundara Vinayagar Koil 2nd Street, Tank Lane Street, and Thatchar Street, all valued at Rs 1,900 per sq.ft in 2024.