Guideline Value for Sundaram Street

Sundaram Street guideline value

The current guideline value of Sundaram Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sundaram Street has changed

The guideline value for Sundaram Street has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft, and with the latest revision in 2024, it increased by 9% to Rs 8,700 per sq.ft.

This change reflects the adjustments made in the guideline values over the years. The most recent revision in 2024 marks an increase from the previous year, where the value was Rs 8,000 per sq.ft in 2023.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Sundaram Street's 2024 figure below that median.

• Sundareswarar Koil Street: Rs 8,700 per sq.ft (2024)
• Sudharsana Iyer Street: Rs 8,700 per sq.ft (2024)
• St.Xavior St: Rs 8,700 per sq.ft (2024)
• Thandavarayan Street: Rs 8,700 per sq.ft (2024)
• Sriram Nagar West Street: Rs 14,300 per sq.ft (2024)
• Sriram Nagar South Street: Rs 14,300 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 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Street?

The Sub Registrar Office that covers Sundaram Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It serves as the benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations involved in the transaction. Ensuring that you are informed about the current guideline value can help in planning your budget effectively.

Frequently asked questions

What is the current guideline value of Sundaram Street?

The current guideline value of Sundaram Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sundaram Street has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Sundaram Street?

Sundaram Street is classified as Residential Class I Type - III, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for property in Sundaram Street?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. The duty is charged on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sundaram Street located?

The Sub Registrar Office covering Sundaram Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is part of the Chennai Central Joint I SRO.