Guideline Value for Sundarapuram 1st street

Sundarapuram 1st street guideline value

The current guideline value for Sundarapuram 1st street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO and is classified as Residential Class IV Type - I.

How the guideline value of Sundarapuram 1st street has changed

Over the years, the guideline value for Sundarapuram 1st street has seen significant changes. The 2007 revision recorded a guideline value of Rs 600 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 317%. However, the value dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The following revision in 2023 saw a substantial increase to Rs 2,500 per sq.ft, followed by another rise to the current value of Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%, showcasing the fluctuations in property values over the years.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value for Sundarapuram 1st street is below this median.

• Sundarapuram 2nd street: Rs 2,700 per sq.ft (2024)
• Sundarapuram 3rd stret: Rs 2,700 per sq.ft (2024)
• Sundarapuram 4th street: Rs 2,700 per sq.ft (2024)
• sundarajaperumal Koil street: Rs 4,400 per sq.ft (2024)
• Sydenhams Road: Rs 13,000 per sq.ft (2024)
• Subbaiya Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sundarapuram 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sundarapuram 1st street?

The Sub Registrar Office that covers Sundarapuram 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

When buying or selling property in Vepery, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is established by the Registration Department and is used as a benchmark for property transactions.

At the time of registration, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sundarapuram 1st street?

The current guideline value for Sundarapuram 1st street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 350% over this period.

What are the stamp duty rates for property in Sundarapuram 1st street?

The stamp duty for property transactions in Sundarapuram 1st street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sundarapuram 1st street located?

The Periamet Sub Registrar Office, which covers Sundarapuram 1st street, is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Sundarapuram 1st street?

Sundarapuram 1st street is classified as Residential Class IV Type - I, indicating its zoning for residential purposes.