Guideline Value for Sundaramurthy Street

Sundaramurthy Street guideline value

The current guideline value of Sundaramurthy Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Sundaramurthy Street has changed

The guideline value for Sundaramurthy Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,512 per sq.ft. The most recent revision in 2024 saw a substantial increase to Rs 4,100 per sq.ft, marking a 63% rise from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 413%. Notably, there are no figures available for the revisions in 2023, 2003, and 2002 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that Sundaramurthy Street's 2024 figure is below this median.

• Sundaramurthy Street Block 79: Rs 4,100 per sq.ft (2024)
• Sundaram Street: 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 Sundaramurthy 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, and the registration fee at 2% would be Rs 82,000, bringing the total fees together to Rs 3,69,000. It is important to note that 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 Sundaramurthy Street?

The Sub Registrar Office that covers Sundaramurthy Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sundaramurthy Street?

The current guideline value of Sundaramurthy Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, showing an overall increase of 413% over the years.

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

For a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee would be Rs 82,000, totaling Rs 3,69,000.

Which Sub Registrar Office covers Sundaramurthy Street?

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

What is the land classification of Sundaramurthy Street?

Sundaramurthy Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.