Guideline Value for Sundarapuri Nagar

Sundarapuri Nagar guideline value

The current guideline value of Sundarapuri Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This locality is situated in Varadarajapuram village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Sundarapuri Nagar has changed

Over the years, the guideline value of Sundarapuri Nagar has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 150 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 603 per sq.ft in 2017, reflecting a drop of 33%. The value rose again to Rs 900 per sq.ft in 2023, before reaching the current value of Rs 990 per sq.ft in 2024, which is a 10% increase from the previous year. The overall change from 2007 to 2024 is an increase of 560%.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. The guideline value has thus evolved from Rs 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, showcasing significant fluctuations over the years.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Sundarapuri Nagar is below this median.

• Sundar Nagar: Rs 1,650 per sq.ft (2024)
• Sundar Nagar Extn: Rs 1,980 per sq.ft (2024)
• Sulochana Nagar: Rs 990 per sq.ft (2024)
• Tambaram - Kishkintha Road: Rs 1,650 per sq.ft (2024)
• Tambaram - Manimangalam Road: Rs 1,320 per sq.ft (2024)
• Tansi puram: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sundarapuri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. It is important to note that the 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 details.

Which Sub Registrar Office covers Sundarapuri Nagar?

The Sundarapuri Nagar area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Varadarajapuram. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sundarapuri Nagar?

The current guideline value of Sundarapuri Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, with various fluctuations in between, including a peak of Rs 900 per sq.ft in 2012 and a drop to Rs 603 per sq.ft in 2017.

What is the land classification for Sundarapuri Nagar?

Sundarapuri Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sundarapuri Nagar?

The Padappai Sub Registrar Office, which covers Sundarapuri Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Sundarapuri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 990 per sq.ft, the stamp duty would amount to Rs 69,300.