Guideline Value for Sundaresan Street

Sundaresan Street guideline value

The current guideline value of Sundaresan Street in Zaminpallavaram village, under the Pallavaram SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. The land classification for this street is Mixed Type - I.

How the guideline value of Sundaresan Street has changed

The guideline value for Sundaresan Street has seen several revisions over the years. In 2003, the guideline value was Rs 373 per sq.ft, which increased by 61% to Rs 600 per sq.ft in 2007. The value then rose significantly by 483% to Rs 3,500 per sq.ft in 2012, before dropping by 33% to Rs 2,345 per sq.ft in 2017. Following this, the value increased by 60% to Rs 3,750 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft as of the 2024 revision, reflecting a 3% increase from the previous year. The register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Sundaresan Street's 2024 figure above this median.

• Sundaresan Street (Colony): 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

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 amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, totaling 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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sundaresan Street?

The Sub Registrar Office that covers Sundaresan Street 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 during property transactions in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the legal sale price, ensuring that all parties involved are aware of the financial implications. It is essential for buyers to check the current guideline value to understand their financial obligations accurately.

Frequently asked questions

What is the current guideline value of Sundaresan Street?

The current guideline value of Sundaresan Street 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, marking an overall increase of 932% over this period.

What are the stamp duty and registration fees for properties on Sundaresan Street?

For a 1,000 sq.ft property, the total guideline value is Rs 38,50,000. The stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registration for Sundaresan Street?

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

What is the land classification for Sundaresan Street?

The land classification for Sundaresan Street is Mixed Type - I, which indicates the type of development and usage permitted in the area.