Guideline Value for Sundaram Colony 5th Street

Sundaram Colony 5th Street guideline value

The current guideline value of Sundaram Colony 5th 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 5th Street has changed

The guideline value for Sundaram Colony 5th Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 2,700 per sq.ft. This value decreased to Rs 1,809 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,700 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, the value dropped by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 7%. 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 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, making the 2024 guideline value of Sundaram Colony 5th Street above the median.

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

Stamp duty and registration fee for property in Sundaram Colony 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaram Colony 5th Street?

The Sub Registrar Office that covers Sundaram Colony 5th 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. It serves as a benchmark for determining the minimum value of a property for registration purposes. The guideline value helps ensure transparency and fairness in property transactions.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundaram Colony 5th Street?

The current guideline value of Sundaram Colony 5th 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, representing a 7% increase. It was Rs 1,809 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification of Sundaram Colony 5th Street?

Sundaram Colony 5th Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,61,000.

Where can I find the Sub Registrar Office for Sundaram Colony 5th Street?

The Selaiyur Sub Registrar Office, which covers Sundaram Colony 5th Street, is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.