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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sundaram Street has changed

The guideline value for Sundaram Street has seen a revision from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, marking an increase of 9%. Prior to the 2023 revision, the register has no figures for this street for the years 2002, 2003, 2007, 2012, and 2017.

In the 2024 revision, the guideline value is set at Rs 8,700 per sq.ft, reflecting the latest update. The previous revision in 2023 recorded a value of Rs 8,000 per sq.ft, indicating a notable change in the guideline value.

Guideline values in Mylapore Part 2

Within Mylapore Part 2, there are 332 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 guideline value for these streets is Rs 8,800 per sq.ft, placing Sundaram Street's 2024 figure below this 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 amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, together totaling Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When a property is bought or sold, the guideline value must be considered, as it serves as a benchmark for the official valuation of the property. This helps maintain transparency and consistency in property transactions within the region.

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 increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% rise. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value for streets in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft, placing Sundaram Street's 2024 figure below this median.

What are the stamp duty and registration fees for a property on 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 higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Sundaram Street located?

The Sub Registrar Office for Sundaram Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.