Guideline Value for Sundaresapuram

Sundaresapuram guideline value

The current guideline value of Sundaresapuram, located in Kovur village under the Kunrathur SRO in Chennai zone, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the land classification of Residential Special Type - I.

How the guideline value of Sundaresapuram has changed

The guideline value for Sundaresapuram has seen several revisions over the years. In 2003, the value was Rs 74 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007, marking a change of +238%. The value then rose dramatically to Rs 1,500 per sq.ft in 2012, reflecting an increase of +500%. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of -33%. The value then increased to Rs 1,500 per sq.ft in 2023, and finally, it reached the current figure of Rs 1,650 per sq.ft in 2024, which is a rise of +10%.

Overall, from 2003 to 2024, the guideline value has increased by +2,130%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current figure for Sundaresapuram.

• Sundareswarar Nagar: Rs 1,650 per sq.ft (2024)
• Sundareswarar Sanathi Street: Rs 1,650 per sq.ft (2024)
• Subbarayan Nagar: Rs 1,320 per sq.ft (2024)
• S.S. Nagar: Rs 1,650 per sq.ft (2024)
• S.R.S.Nagar: Rs 1,320 per sq.ft (2024)
• Sri Visalathchi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaresapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Sundaresapuram?

The Sub Registrar Office that covers Sundaresapuram is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kovur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value influences the calculation of stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundaresapuram?

The current guideline value of Sundaresapuram is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 74 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, marking an overall increase of +2,130% over this period.

What are the stamp duty and registration fees for property in Sundaresapuram?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Sundaresapuram?

The Kunrathur Sub Registrar Office handles registrations for Sundaresapuram, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Sundaresapuram?

Sundaresapuram is classified as Residential Special Type - I, which indicates its suitability for residential development.