Guideline Value for Sundaram Colony 1st Street

Sundaram Colony 1st Street guideline value

The current guideline value of Sundaram Colony 1st Street in Kadaperi village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

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

The guideline value for Sundaram Colony 1st Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, this value decreased to Rs 804 per sq.ft in 2017, representing a decline of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that the 2024 guideline value for Sundaram Colony 1st Street is below this median.

• Sundaram Colony 2nd Street: Rs 1,320 per sq.ft (2024)
• Sundaram Colony 3rd Street: Rs 1,320 per sq.ft (2024)
• Sundaram Colony 4th Street: Rs 1,320 per sq.ft (2024)
• Sundaram Colony Main Road: Rs 1,320 per sq.ft (2024)
• Sundaram Salai East Street: Rs 1,320 per sq.ft (2024)
• Subramania Barathi Street: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Colony 1st Street?

The Sub Registrar Office that covers Sundaram Colony 1st Street 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kadaperi. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for the completion of the property transaction. This helps in maintaining a standard across various properties within the region.

Frequently asked questions

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

The current guideline value of Sundaram Colony 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking a total increase of 230% over the years.

What is the median guideline value for streets in Kadaperi?

The median guideline value for the 142 streets in Kadaperi under the Tambaram Joint 1 SRO is Rs 1,650 per sq.ft.

What are the stamp duty and registration fees for property in Sundaram Colony 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, with stamp duty of Rs 92,400 and registration fee of Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Sundaram Colony 1st Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Sundaram Colony 1st Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.