Guideline Value for Sundaram Colony 4th Cross Street

Sundaram Colony 4th Cross Street guideline value

The current guideline value of Sundaram Colony 4th Cross 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 4th Cross Street has changed

The guideline value for Sundaram Colony 4th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from Rs 1,809 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,700 per sq.ft, and the latest revision in 2024 raised it to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that there are no figures available for the revisions in 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. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Sundaram Colony 4th Cross Street above this median.

• Sundaram Colony 4th Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 5th Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 5th Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 6th Cross Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Colony 4th Cross Street

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, resulting in a total cost of Rs 2,61,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaram Colony 4th Cross Street?

The Sundaram Colony 4th Cross Street is covered by 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 in the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects a fair valuation for taxation purposes.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sundaram Colony 4th Cross Street?

The current guideline value for Sundaram Colony 4th 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. It was Rs 1,809 per sq.ft in 2017, showing an overall increase of 49% to the 2023 figure.

What is the land classification for Sundaram Colony 4th Cross Street?

Sundaram Colony 4th Cross 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?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs can amount to Rs 2,61,000.

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. You can find more details online.