Guideline Value for Sundaram Street

Sundaram Street guideline value

The current guideline value of Sundaram Street in Menambedu village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Sundaram Street has changed

The guideline value for Sundaram Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,600 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 1,072 per sq.ft, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has set the value at Rs 1,700 per sq.ft, which is a 6% increase from the previous year.

It is important to note that the register has no figures for Sundaram Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value is Rs 1,003 per sq.ft, making Sundaram Street's 2024 figure above that median.

• Sundarrajan Street: Rs 1,700 per sq.ft (2024)
• Subramaniyam Street: Rs 1,300 per sq.ft (2024)
• Station Road: Rs 1,700 per sq.ft (2024)
• Sri Vinayagar Nagar: Rs 1,002 per sq.ft (2024)
• Thangakulam: Rs 1,001 per sq.ft (2024)
• Sri sastha Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sundaram Street?

The Sub Registrar Office that covers Sundaram Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Menambedu. It determines the minimum value at which a property can be registered, and it is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sundaram Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the land classification for Sundaram Street?

Sundaram Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Sundaram Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.