Guideline Value for Sundaram Nagar

Sundaram Nagar guideline value

The current guideline value of Sundaram Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

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 set the value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 469 per sq.ft. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Since the 2017 revision, the overall change from Rs 469 per sq.ft to Rs 700 per sq.ft in 2024 also reflects a 49% increase.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 700 per sq.ft, which matches the current value of Sundaram Nagar.

• Suvisesapuram: Rs 1,000 per sq.ft (2024)
• Subethra Avenue: Rs 700 per sq.ft (2024)
• Teachers Green Meadow Ph.I: Rs 1,000 per sq.ft (2024)
• Telephone Lane: Rs 800 per sq.ft (2024)
• Sri Vinayaka Nagar Ph.-IV: Rs 700 per sq.ft (2024)
• Sri Vinayaga nagar Part I,II,III: Rs 700 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost for these charges to Rs 63,000. 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 on calculating these fees.

Which Sub Registrar Office covers Sundaram Nagar?

The Sub Registrar Office that covers Sundaram Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sriperumbudur A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for both parties involved. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sundaram Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2023 to 2024, marking no change. However, from 2017 to 2023, it increased by 49% from Rs 469 per sq.ft.

What is the land classification for Sundaram Nagar?

Sundaram Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Sundaram Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in Sundaram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 49,000 at 7% of the guideline value.