Guideline Value for Sundara Vinayagar Koil 2nd Lane

Sundara Vinayagar Koil 2nd Lane guideline value

The current guideline value of Sundara Vinayagar Koil 2nd Lane is Rs 1,600 per sq.ft. This street is located in Siruvallur village, under the Sembiam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sundara Vinayagar Koil 2nd Lane has changed

The guideline value for Sundara Vinayagar Koil 2nd Lane has seen several revisions over the years. In 2002, the value was Rs 375 per sq.ft, which increased to Rs 412 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,600 per sq.ft in the 2024 revision.

The changes between the revisions show notable fluctuations. From 2002 to 2003, there was a 10% increase, followed by a significant rise of 94% from 2003 to 2007. The value then increased by 88% from 2007 to 2012, but saw a decline of 33% from 2012 to 2017. From 2017 to 2023, the value increased by 49%, and finally, from 2023 to 2024, it rose by 7%. Overall, from 2002 to 2024, the guideline value has increased by 327%.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, placing Sundara Vinayagar Koil 2nd Lane below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 detailed calculations.

Which Sub Registrar Office covers Sundara Vinayagar Koil 2nd Lane?

The Sub Registrar Office that covers Sundara Vinayagar Koil 2nd Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial aspect when buying or selling property in Siruvallur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware that the registration process will consider the guideline value or the sale price, whichever is higher.

This ensures that the property is registered at a value that reflects the current market conditions as determined by the government. Therefore, understanding the guideline value is essential for anyone looking to engage in property transactions in the area.

Frequently asked questions

What is the current guideline value of Sundara Vinayagar Koil 2nd Lane?

The current guideline value of Sundara Vinayagar Koil 2nd Lane is Rs 1,600 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 375 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 327% over this period.

What is the median guideline value in Siruvallur?

The median guideline value for streets in Siruvallur is Rs 1,900 per sq.ft, which is above the current value of Sundara Vinayagar Koil 2nd Lane.

What are the stamp duty and registration fees for property in Sundara Vinayagar Koil 2nd Lane?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Where is the Sub Registrar Office for Sundara Vinayagar Koil 2nd Lane located?

The Sembiam Sub Registrar Office, which covers Sundara Vinayagar Koil 2nd Lane, is located at 5, Papermills Road, Sembiam, Chennai - 600011.