Guideline Value for Sundareswarar Sanathi Street

Sundareswarar Sanathi Street guideline value

The current guideline value of Sundareswarar Sanathi Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kovur village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sundareswarar Sanathi Street has changed

The guideline value for Sundareswarar Sanathi Street has undergone several revisions since 2003. In 2003, the guideline value was Rs 127 per sq.ft, which increased to Rs 250 per sq.ft in 2007. Following this, there was a significant rise to Rs 1,500 per sq.ft in 2012, but it dropped to Rs 1,005 per sq.ft in 2017. The value then increased substantially to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,650 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was a remarkable 500%, while the change from 2003 to 2007 was a 97% increase. Overall, from 2003 to 2024, the guideline value has risen by 1199%. The register has no figure for the year 2002 for this street.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the current guideline value for Sundareswarar Sanathi Street.

• Sundareswarar Nagar: Rs 1,650 per sq.ft (2024)
• Sundaresapuram: 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 Sundareswarar Sanathi Street

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. Please 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 Sundareswarar Sanathi Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Kovur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it may affect the overall cost of the transaction. Buyers should consider this value in relation to the sale price to ensure compliance with registration regulations.

Frequently asked questions

What is the current guideline value of Sundareswarar Sanathi Street?

The current guideline value of Sundareswarar Sanathi Street 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 significantly from Rs 127 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an increase of 1199% overall.

What is the land classification for Sundareswarar Sanathi Street?

The land classification for Sundareswarar Sanathi Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for Sundareswarar Sanathi Street?

The Sub Registrar Office for Sundareswarar Sanathi Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sundareswarar Sanathi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.