Guideline Value for Sundaram Colony 4th Street

Sundaram Colony 4th Street guideline value

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

The guideline value for Sundaram Colony 4th Street has undergone 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 the previous revision in 2017, where the value was Rs 1,809 per sq.ft. The value remained the same at Rs 2,700 per sq.ft in 2023, before increasing to Rs 2,900 per sq.ft in the 2024 revision, marking a 7% increase.

Overall, from 2012 to 2024, 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 value among these streets is Rs 2,200 per sq.ft, placing Sundaram Colony 4th Street above this median value.

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

Stamp duty and registration fee for property in Sundaram Colony 4th 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, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sundaram Colony 4th Street?

The Sub Registrar Office that covers Sundaram Colony 4th 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable stamp duty and registration fees. This ensures transparency and fairness in property transactions, as it reflects the official valuation of the property based on its location and classification.

Frequently asked questions

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

The current guideline value of Sundaram Colony 4th 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, showing a 7% increase. The value was Rs 2,700 per sq.ft in 2012 and Rs 1,809 per sq.ft in 2017.

What is the land classification of Sundaram Colony 4th Street?

Sundaram Colony 4th Street is classified as Residential Special Type - I. This classification affects the guideline value and property usage in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sundaram Colony 4th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sundaram Colony 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 29,00,000, the stamp duty would be calculated at 7% of this amount.