Guideline Value for Sundaresan Street (Colony)

Sundaresan Street (Colony) guideline value

The current guideline value of Sundaresan Street (Colony) is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Sundaresan Street (Colony) has changed

The guideline value for Sundaresan Street (Colony) has seen several revisions over the years. In 2003, the value was Rs 373 per sq.ft, which increased to Rs 600 per sq.ft in 2007. This was a significant change of +61%. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, marking an increase of +483%. The next revision in 2023 set the value at Rs 3,750 per sq.ft, reflecting a +7% change. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is a +3% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2017 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by +932%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, making the 2024 figure for Sundaresan Street (Colony) above the median.

• Sundaresan Street: Rs 3,850 per sq.ft (2024)
• Sunnambukalvai 2nd Street: Rs 3,300 per sq.ft (2024)
• Sunnambu Kalvai Kudiirruppu Kuttai (G.S.T. Road): Rs 3,300 per sq.ft (2024)
• Sunnambukalvai Street: Rs 3,300 per sq.ft (2024)
• Surya Avenue: Rs 3,520 per sq.ft (2024)
• Suguna Colony Ext: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaresan Street (Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sundaresan Street (Colony)?

The Sub Registrar Office that covers Sundaresan Street (Colony) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sundaresan Street (Colony)?

The current guideline value of Sundaresan Street (Colony) is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 373 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +932% over this period.

What are the other streets in Zaminpallavaram with their guideline values?

Other streets in Zaminpallavaram include Sunnambukalvai 2nd Street, Sunnambu Kalvai Kudiirruppu Kuttai (G.S.T. Road), Sunnambukalvai Street, Surya Avenue, and Suguna Colony Ext, with guideline values ranging from Rs 3,300 to Rs 3,850 per sq.ft in 2024.

What is the registration fee for property in Sundaresan Street (Colony)?

The registration fee for a property in Sundaresan Street (Colony) is calculated based on the guideline value. For a property valued at Rs 38,50,000, the registration fee at 2% would be Rs 77,000.

Which office handles property registrations for Sundaresan Street (Colony)?

The Pallavaram Sub Registrar Office handles property registrations for Sundaresan Street (Colony), located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.