Guideline Value for Sundaram Nagar 2nd Street

Sundaram Nagar 2nd Street guideline value

The current guideline value of Sundaram Nagar 2nd Street is Rs 2,700 per sq.ft. This street is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Sundaram Nagar 2nd Street has changed

The guideline value for Sundaram Nagar 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, marking a 61% increase from 2017.

Overall, from 2007 to 2024, the guideline value has increased by 170%. The register does not have figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, making the current guideline value of Sundaram Nagar 2nd Street below this median.

• Sundaram Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sundram Nagar Extension: Rs 2,700 per sq.ft (2024)
• Sundram Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Sundram Pannai: Rs 2,200 per sq.ft (2024)
• Subramaniyapuram Main Road: Rs 3,300 per sq.ft (2024)
• Subramaniyapuram 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sundaram Nagar 2nd Street?

The Sub Registrar Office that covers Sundaram Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial element in property transactions in Kolathur, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction, and the fees 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 of Sundaram Nagar 2nd Street?

The current guideline value of Sundaram Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, representing a total increase of 170% over the years.

What is the land classification for Sundaram Nagar 2nd Street?

The land classification for Sundaram Nagar 2nd Street is Residential Class II Type - I, indicating its use for residential purposes.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in this area.

How is stamp duty calculated for properties in Sundaram Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.