Guideline Value for Sundaram Colony 3rd Main Road

Sundaram Colony 3rd Main Road guideline value

The current guideline value of Sundaram Colony 3rd Main Road is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sundaram Colony 3rd Main Road has changed

The guideline value for Sundaram Colony 3rd Main Road has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 350% rise. However, this value dropped to Rs 1,809 per sq.ft in 2017, representing a decrease of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, before reaching the current figure of Rs 2,900 per sq.ft in 2024, which reflects a 7% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 383%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Sundaram Colony 3rd Main Road's 2024 value above this median.

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

Stamp duty and registration fee for property in Sundaram Colony 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total 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. Please note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sundaram Colony 3rd Main Road?

The Sub Registrar Office that covers Sundaram Colony 3rd Main Road 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 further assistance.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It is used to determine the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When purchasing or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Sundaram Colony 3rd Main Road?

The current guideline value for Sundaram Colony 3rd Main Road 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 increased from Rs 600 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 383% over the years.

What is the land classification for Sundaram Colony 3rd Main Road?

Sundaram Colony 3rd Main Road is classified as Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

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 Selaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 29,00,000 would incur a stamp duty of Rs 2,03,000 at the current rate of 7%.