Guideline Value for Sundaram colony 3rd Street

Sundaram colony 3rd Street guideline value

The current guideline value for Sundaram Colony 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sundaram colony 3rd Street has changed

The guideline value for Sundaram Colony 3rd Street has seen several revisions over the years. The 2012 revision set the guideline value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,500 per sq.ft in the 2023 revision, and finally to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Sundaram Colony 3rd Street is above this median.

• Sundaram Colony 3-rd Main Road: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 2-nd Main Road: Rs 3,850 per sq.ft (2024)
• Sundaram Colony Ist Street: Rs 3,850 per sq.ft (2024)
• Sundaram Colony 1-st Main Road: Rs 3,850 per sq.ft (2024)
• Sundarambal Kuppusamy Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sundaram colony 3rd Street?

The Sub Registrar Office that covers Sundaram Colony 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives appropriate stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer and seller must adhere to the guideline value to ensure compliance with legal requirements. This helps maintain transparency in property transactions and ensures that both parties are aware of the official value assigned to the property.

Frequently asked questions

What is the current guideline value for Sundaram colony 3rd Street?

The current guideline value for Sundaram Colony 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Sundaram colony 3rd Street?

The Tambaram Joint 1 Sub Registrar Office covers Sundaram Colony 3rd Street, located at No.26, MES Road, East Tambaram, Chennai-600059.

What is the land classification for Sundaram colony 3rd Street?

The land classification for Sundaram Colony 3rd Street is Residential Special Type - II.