Guideline Value for Sundaram Colony 6th Cross Street

Sundaram Colony 6th Cross Street guideline value

The current guideline value of Sundaram Colony 6th 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 6th Cross Street has changed

The guideline value for Sundaram Colony 6th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 600 per sq.ft. This figure increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 350%. However, the value then decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The 2023 revision set the value at Rs 2,700 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 has raised the guideline value to Rs 2,900 per sq.ft, reflecting a 7% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 383%.

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 in this area is Rs 2,200 per sq.ft, placing Sundaram Colony 6th Cross Street above this median value.

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

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

Which Sub Registrar Office covers Sundaram Colony 6th Cross Street?

The Sub Registrar Office that covers Sundaram Colony 6th Cross 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 plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid potential disputes during the transaction.

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

Frequently asked questions

What is the current guideline value of Sundaram Colony 6th Cross Street?

The current guideline value of Sundaram Colony 6th 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 600 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 383% over the years.

What is the significance of the guideline value in property transactions?

The guideline value is used as a minimum benchmark for property registration and is essential for calculating stamp duty and registration fees during property transactions.

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.

What are the stamp duty and registration fees for properties in Sundaram Colony 6th Cross Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,61,000, based on the guideline value of Rs 29,00,000.