Guideline Value for Sundaram Colony 2-nd Main Road

Sundaram Colony 2-nd Main Road guideline value

The current guideline value of Sundaram Colony 2-nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Sundaram Colony 2-nd Main Road has changed

In the most recent revision of 2024, the guideline value increased to Rs 3,850 per sq.ft from Rs 3,500 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision set the value at Rs 2,345 per sq.ft, which reflects an increase of +49% by 2023. The 2012 revision also recorded a value of Rs 3,500 per sq.ft, showing a decrease of -33% when compared to the 2017 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. This indicates a significant change in the guideline value over the years, particularly between 2017 and 2023.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for Sundaram Colony 2-nd Main Road above this median.

• Sundaram Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 1-st Main Road: 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)
• Sundarambal Kuppusamy Street: Rs 3,850 per sq.ft (2024)
• Sundaram Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Colony 2-nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Colony 2-nd Main Road?

The Sub Registrar Office that covers Sundaram Colony 2-nd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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 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 in assessing the fair value of the property, which is essential for both buyers and sellers. It also aids in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sundaram Colony 2-nd Main Road?

The current guideline value of Sundaram Colony 2-nd Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024 (+10%), and from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023 (+49%).

What is the land classification for Sundaram Colony 2-nd Main Road?

Sundaram Colony 2-nd Main Road is classified as Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Sundaram Colony 2-nd Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.