Guideline Value for Sundaram Nagar

Sundaram Nagar guideline value

The current guideline value of Sundaram Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Sundaram Nagar has changed

Over the years, the guideline value of Sundaram Nagar has seen significant changes. Starting from the 2007 revision, the value was Rs 200 per sq.ft. It rose dramatically to Rs 1,500 per sq.ft in 2012, marking an increase of 650%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 1,500 per sq.ft in 2023, and further to Rs 1,650 per sq.ft in 2024, showing a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 725%, reflecting the changes in the market over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Sundaram Nagar is below this median.

• Sundarar Street: Rs 2,310 per sq.ft (2024)
• Sudukadu Road: Rs 1,650 per sq.ft (2024)
• Suvathini Apartments: Rs 1,650 per sq.ft (2024)
• Subbammal Nagar: Rs 1,650 per sq.ft (2024)
• Swarkam Avenue: Rs 2,640 per sq.ft (2024)
• Swarkkam Nagar: Rs 2,640 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Nagar?

The Sub Registrar Office that covers Sundaram Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with legal requirements 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 200 per sq.ft to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the land classification of Sundaram Nagar?

Sundaram Nagar is classified as Residential Class IV Type - II according to the local land classification standards.

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

The Sub Registrar Office for Sundaram Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000.