Guideline Value for Sundaram Colony 1st Cross Street

Sundaram Colony 1st Cross Street guideline value

The current guideline value of Sundaram Colony 1st Cross Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sundaram Colony 1st Cross Street has changed

The guideline value for Sundaram Colony 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,809 per sq.ft. The value remained at Rs 2,700 per sq.ft in 2023, before increasing to Rs 2,900 per sq.ft in the 2024 revision, marking a 7% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Sundaram Colony 1st Cross Street's 2024 value is above that median.

• Sundaram Colony: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, resulting in a total of Rs 2,61,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sundaram Colony 1st Cross Street?

The Sub Registrar Office that covers Sundaram Colony 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction. The registration authority uses this value to calculate the applicable fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sundaram Colony 1st Cross Street?

The current guideline value of Sundaram Colony 1st Cross Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

What is the land classification for Sundaram Colony 1st Cross Street?

Sundaram Colony 1st Cross Street is classified as Residential Special Type - I. This classification indicates the intended use of the land for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Sundaram Colony 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 2,03,000.