Guideline Value for Sundaram Colony 3rd Street

Sundaram Colony 3rd Street guideline value

The current guideline value of Sundaram Colony 3rd 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 3rd Street has changed

The guideline value for Sundaram Colony 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which then decreased 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 most recent 2024 revision further raised it to Rs 2,900 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 7% increase. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Sundaram Colony 3rd Street's 2024 figure is above this median.

• Sundaram Colony 3rd 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)
• Sundaram Colony 3rd Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 5th Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 5th Street: Rs 2,900 per sq.ft (2024)

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

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

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaram Colony 3rd Street?

The Sub Registrar Office that covers Sundaram Colony 3rd 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, 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 in the registration process for property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. This ensures transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of Sundaram Colony 3rd 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, marking a 7% increase. It was Rs 1,809 per sq.ft in 2017, showing a significant increase of 49% to the 2023 figure.

What is the land classification for Sundaram Colony 3rd Street?

Sundaram Colony 3rd Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

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. The duty is charged on the higher of the guideline value and the sale price.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.