Guideline Value for Sundareswarar Koil Street

Sundareswarar Koil Street guideline value

The current guideline value of Sundareswarar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sundareswarar Koil Street has changed

The guideline value for Sundareswarar Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 344%. However, it decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then saw a notable increase to Rs 2,000 per sq.ft in 2023, followed by its current rate of Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value of Sundareswarar Koil Street.

• Sundar Nagar: Rs 1,300 per sq.ft (2024)
• Sundar Nagar Rajeswari Nagar Extn: Rs 1,300 per sq.ft (2024)
• Sundaram Smart City Phase I: Rs 3,300 per sq.ft (2024)
• Sundaram Colony Andal Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 6th Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 6th Cross Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sundareswarar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundareswarar Koil Street?

The Sub Registrar Office that covers Sundareswarar Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During registration, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Sundareswarar Koil Street?

The current guideline value of Sundareswarar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 389%. Various revisions have occurred, with notable changes in 2012, 2017, 2023, and 2024.

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

Other streets in Selaiyur have varying guideline values. For instance, Sundar Nagar and Sundar Nagar Rajeswari Nagar Extn both have a value of Rs 1,300 per sq.ft, while Sundaram Smart City Phase I is valued at Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for properties in Sundareswarar Koil Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Sundareswarar Koil Street located?

The Sub Registrar Office for Sundareswarar Koil Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office is part of the Chengalpattu registration zone.