Guideline Value for Sundaram Avenue

Sundaram Avenue guideline value

The current guideline value of Sundaram Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Sundaram Avenue has changed

The guideline value for Sundaram Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the 2017 revision, which saw a decrease of 33% to Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sundaram Avenue.

• Sundarambal Kuppusamy Street: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 1-st Main Road: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 2-nd Main Road: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 3-rd Main Road: Rs 3,850 per sq.ft (2024)
• Sundaram colony 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Avenue?

The Sub Registrar Office that covers Sundaram Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a reference point for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties agree on a fair price. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sundaram Avenue?

The current guideline value of Sundaram Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% during this period.

What are the stamp duty and registration fees for property in Sundaram Avenue?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500 based on the current guideline value.

Which Sub Registrar Office covers Sundaram Avenue?

The Tambaram Joint 1 Sub Registrar Office covers Sundaram Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Sundaram Avenue?

Sundaram Avenue is classified as Residential Class I Type - III, indicating its suitability for residential development.