Guideline Value for Sundaramoorthy Kiramani Street

Sundaramoorthy Kiramani Street guideline value

The current guideline value of Sundaramoorthy Kiramani Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Sundaramoorthy Kiramani Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in the 2017 revision, reflecting a decline of 33%. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, marking a rise of 49%. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nesapakkam

Nesapakkam has 148 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Sundaramoorthy Kiramani Street's 2024 figure is below that median.

• Sri Valli Avenue: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar 1st Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 2nd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar 3rd Street lane: Rs 4,950 per sq.ft (2024)
• Thiruvalluvar Road: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaramoorthy Kiramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 Sundaramoorthy Kiramani Street?

The Sub Registrar Office that covers Sundaramoorthy Kiramani Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Nesapakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundaramoorthy Kiramani Street?

The current guideline value of Sundaramoorthy Kiramani Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Nesapakkam?

The median guideline value for the 148 streets in Nesapakkam is Rs 3,300 per sq.ft, which is higher than the current value of Sundaramoorthy Kiramani Street.

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

The stamp duty is charged at 7% of the higher value between the guideline value and the sale price, while the registration fee is charged at 2%.

Where can I find the Sub Registrar Office for Sundaramoorthy Kiramani Street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles registrations for properties in Sundaramoorthy Kiramani Street.