Guideline Value for Sundarar Street

Sundarar Street guideline value

The current guideline value of Sundarar Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Sundarar Street has changed

The guideline value for Sundarar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Sundarar Street.

• Sundarar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Suganthammal Nagar: Rs 2,200 per sq.ft (2024)
• Susila Nagar 1st Main Road: Rs 2,700 per sq.ft (2024)
• Susila Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Susila Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Susila Nagar Main Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sundarar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Please note that 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 Sundarar Street?

The Sub Registrar Office that covers Sundarar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Kodungaiyur, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is important to note that the guideline value may differ from the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundarar Street?

The current guideline value of Sundarar 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 for Sundarar Street was Rs 2,500 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification for Sundarar Street?

Sundarar Street falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Sundarar Street?

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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000, leading to a stamp duty of Rs 1,89,000.