Guideline Value for Sundararami Salai

Sundararami Salai guideline value

The current guideline value of Sundararami Salai is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur Sub Registrar Office (SRO), and is classified as Residential Special Type - I.

How the guideline value of Sundararami Salai has changed

The guideline value for Sundararami Salai has seen several revisions over the years. Starting from Rs 366 per sq.ft in 2002, it increased to Rs 402 per sq.ft in 2003. The value then rose significantly to Rs 1,200 per sq.ft in 2007, followed by a jump to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017 before increasing again to Rs 6,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft.

Between these revisions, the changes were as follows: from 2002 to 2003, there was an increase of 10%. The value surged by 199% from 2003 to 2007, followed by a remarkable increase of 442% from 2007 to 2012. The value then dropped by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. Finally, the guideline value rose by 9% from 2023 to 2024. Overall, from 2002 to 2024, the increase is 1,840%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values in 2024 ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value among these streets is Rs 7,100 per sq.ft, which is the same as the guideline value for Sundararami Salai.

• Sudharsan Street: Rs 3,800 per sq.ft (2024)
• Suriyaganthi Colony Flats: Rs 7,100 per sq.ft (2024)
• Thenthirupathi Nagar: Rs 4,900 per sq.ft (2024)
• Therkku Cross Street: Rs 3,300 per sq.ft (2024)
• Srinivasa Nagar Sakthi Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Kamaraj Ist Cross and Extension: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sundararami Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees together to Rs 6,39,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Sundararami Salai?

The Sub Registrar Office that covers Sundararami Salai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mugappair. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid. It ensures that the transaction is recorded at a fair value as per government regulations.

During the registration process, the buyer must provide the guideline value or the sale price, whichever is higher, to calculate the applicable duties. This helps maintain transparency and adherence to legal requirements in property transactions.

Frequently asked questions

What is the current guideline value of Sundararami Salai?

The current guideline value of Sundararami Salai is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 366 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1,840% over this period.

What is the land classification for Sundararami Salai?

Sundararami Salai is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated for properties in Sundararami Salai?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 and a registration fee of Rs 1,42,000.