Guideline Value for Sundaram Nagar (Ward-09)

Sundaram Nagar (Ward-09) guideline value

The current guideline value of Sundaram Nagar (Ward-09) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO with a land classification of Residential Class III Type - I.

How the guideline value of Sundaram Nagar (Ward-09) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year. The register has no figure for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The changes reflect the current valuation trends in the area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Sundaram Nagar's 2024 figure below that median.

• Sundaramoorthy Salai (Ward-23): Rs 1,300 per sq.ft (2024)
• Sundarababu St. (Ward-11): Rs 1,300 per sq.ft (2024)
• Sumathi Nagar: Rs 1,300 per sq.ft (2024)
• Sundaravaradan Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sundara Varadhan Nagar (Ward-10): Rs 1,300 per sq.ft (2024)
• Sugannia Nagar Annexe: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Nagar (Ward-09)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total charges to Rs 1,17,000. 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 information.

Which Sub Registrar Office covers Sundaram Nagar (Ward-09)?

The Sub Registrar Office that covers Sundaram Nagar (Ward-09) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions, and it serves as a benchmark for calculating the applicable charges.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the property is registered at a value that reflects its worth according to government standards.

Frequently asked questions

What is the current guideline value of Sundaram Nagar (Ward-09)?

The current guideline value of Sundaram Nagar (Ward-09) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, and then increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What are the registration fees for property in Sundaram Nagar (Ward-09)?

The registration fees for property transactions in Sundaram Nagar (Ward-09) are based on the guideline value. For a property valued at Rs 13,00,000, the registration fee would be Rs 26,000 at 2%.

Which office handles property registrations in Sundaram Nagar?

The Madhavaram Sub Registrar Office is responsible for property registrations in Sundaram Nagar (Ward-09). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current guideline value of Rs 1,300 per sq.ft for Sundaram Nagar (Ward-09).