Guideline Value for Sundaram Nagar

Sundaram Nagar guideline value

The current guideline value of Sundaram Nagar, located in Neelamangalam village under the Gooduvancheri SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - II land classification.

How the guideline value of Sundaram Nagar has changed

The guideline value for Sundaram Nagar has seen several revisions over the years. The most recent revision in 2024 retains the guideline value at Rs 600 per sq.ft, the same as in 2023. Prior to this, in 2017, the value was Rs 402 per sq.ft, marking a significant increase of 49% from 2017 to 2023. In 2012, the value was also Rs 600 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been no change, maintaining the value at Rs 600 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2012 and 2017 revisions show fluctuations, but the recent revisions have stabilized the guideline value at Rs 600 per sq.ft.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which is equal to the guideline value of Sundaram Nagar.

• Sumathi Square: Rs 500 per sq.ft (2024)
• S.V.P. Garden: Rs 500 per sq.ft (2024)
• Sri Varasakthi Vinayagar Nagar: Rs 600 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 500 per sq.ft (2024)
• Sri Neelagandeswarar Nagar: Rs 1,200 per sq.ft (2024)
• Sri Muppathamman Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sundaram Nagar?

The Sub Registrar Office that covers Sundaram Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Neelamangalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sundaram Nagar?

The current guideline value of Sundaram Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a significant increase from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What is the land classification for Sundaram Nagar?

Sundaram Nagar is classified as Residential Class IV Type - II, which is important for understanding its zoning and usage regulations.

What are the stamp duty rates applicable in Sundaram Nagar?

The stamp duty rate in Sundaram Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sundaram Nagar?

The Gooduvancheri Sub Registrar Office covers Sundaram Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.