Guideline Value for Sundaram Street (Vetri Nagar)

Sundaram Street (Vetri Nagar) guideline value

The current guideline value of Sundaram Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sundaram Street (Vetri Nagar) has changed

The guideline value for Sundaram Street (Vetri Nagar) has seen several revisions over the years. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, this value dropped to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,301 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 372%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value among these streets is Rs 3,301 per sq.ft, which is the same as the guideline value for Sundaram Street (Vetri Nagar).

• Sundararaja Perumal Colony 10th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 11th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 12th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 13th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 14th Street: Rs 4,400 per sq.ft (2024)
• Sundararaja Perumal Colony 15th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that 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 Street (Vetri Nagar)?

The Sembiam Sub Registrar Office covers Sundaram Street (Vetri Nagar). The office is 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 Peravallur

The guideline value plays a crucial role in the registration process when buying or selling property in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the applicable charges. This ensures that the registration process is aligned with the current market standards as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Sundaram Street (Vetri Nagar)?

The current guideline value of Sundaram Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 372% over the years.

What are the other streets in Peravallur with their guideline values?

Other streets in Peravallur have varying guideline values, with the Sundararaja Perumal Colony streets ranging from Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate applicable for property in Sundaram Street (Vetri Nagar)?

The stamp duty rate applicable for property in Sundaram Street (Vetri Nagar) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Sundaram Street (Vetri Nagar).