Guideline Value for Sundaram Colony 3rd Cross Street

Sundaram Colony 3rd Cross Street guideline value

The current guideline value of Sundaram Colony 3rd Cross Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sundaram Colony 3rd Cross Street has changed

Over the years, the guideline value of Sundaram Colony 3rd Cross Street has seen several revisions. The earliest recorded revision is from 2012, where the guideline value was Rs 2,700 per sq.ft. This was followed by a decrease to Rs 1,809 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 2,700 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 7% increase. It is important to note that the register has no 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 have a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, meaning that the guideline value of Sundaram Colony 3rd Cross Street is above this median.

• Sundaram Colony 3rd Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 4th Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 4th Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Colony 3rd Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sundaram Colony 3rd Cross Street?

The Sub Registrar Office that covers Sundaram Colony 3rd 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 information.

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

The guideline value is a crucial factor when buying or selling property in Selaiyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer approaches the registration office, they must provide the guideline value to ensure compliance with local regulations. This helps maintain transparency in property transactions and ensures that all parties are aware of the legal requirements involved in the buying and selling process.

Frequently asked questions

What is the current guideline value of Sundaram Colony 3rd Cross Street?

The current guideline value of Sundaram Colony 3rd 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, which is a 7% increase. There was also a significant increase of 49% from Rs 1,809 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2023.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,61,000, which includes a 7% stamp duty and a 2% registration fee.

Which office handles the registration for Sundaram Colony 3rd Cross Street?

The Selaiyur Sub Registrar Office handles the registration for Sundaram Colony 3rd Cross Street. It is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

The guideline value is significant as it determines the minimum registration value for properties, which is used to calculate stamp duty and registration fees. It ensures transparency and compliance with local regulations during property transactions.