Guideline Value for Sundaram Colony 2nd Street

Sundaram Colony 2nd Street guideline value

The current guideline value of Sundaram Colony 2nd 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 2nd Street has changed

The guideline value for Sundaram Colony 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was then reduced to Rs 1,809 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,700 per sq.ft, and the latest 2024 revision has raised it to Rs 2,900 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 7% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value. The register does not have figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 2,200 per sq.ft. The guideline value for Sundaram Colony 2nd Street is above this median.

• Sundaram Colony 2nd Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Colony 2nd 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, bringing the total fees to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Colony 2nd Street?

The Sub Registrar Office covering Sundaram Colony 2nd 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 information.

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

The guideline value is a crucial reference point when registering property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sundaram Colony 2nd Street?

The current guideline value of Sundaram Colony 2nd 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. In 2017, the value was Rs 1,809 per sq.ft, which increased by 49% to Rs 2,700 per sq.ft in 2023.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000. This is based on the current guideline value of Rs 2,900 per sq.ft.

Which office handles registrations for Sundaram Colony 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Sundaram Colony 2nd Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a reference point to ensure transparency and fairness in property dealings.