Guideline Value for Sundaram Street

Sundaram Street guideline value

The current guideline value of Sundaram Street in Kodambakkam village is Rs 4,100 per sq.ft, effective from the 2024 revision. This street falls under the Ashok Nagar SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sundaram Street has changed

The guideline value for Sundaram Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,210 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in the 2012 revision, marking a 210% rise. However, the 2017 revision saw a decrease to Rs 2,512 per sq.ft, reflecting a 33% drop. The most recent revision in 2024 brought the value back up to Rs 4,100 per sq.ft, which is a 63% increase from the previous figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2023 for Sundaram Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 239%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Sundaram Street's 2024 figure below that median.

• Sundaramurthy Street: Rs 4,100 per sq.ft (2024)
• Sundaramurthy Street Block 79: Rs 4,100 per sq.ft (2024)
• Sundar Street: Rs 3,300 per sq.ft (2024)
• Sunday Observer Balasubramaniyam Street: Rs 4,900 per sq.ft (2024)
• Subramaniya Siva Street(3rd Street): Rs 3,300 per sq.ft (2024)
• Subramaniyan Street (Salai): Rs 4,100 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 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total cost for these fees to Rs 3,69,000. The duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sundaram Street?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers Sundaram Street. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price meets or exceeds the guideline value to avoid any legal complications. The guideline value serves as a benchmark for the government to assess property transactions and collect the appropriate taxes.

Frequently asked questions

What is the current guideline value of Sundaram Street?

The current guideline value of Sundaram Street is Rs 4,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 239% over the years.

What is the land classification of Sundaram Street?

Sundaram Street is classified as Residential Class IV Type - I under the Ashok Nagar SRO.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Sundaram Street?

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 total stamp duty would be Rs 2,87,000.