Guideline Value for Sundeep Avenue & Road

Sundeep Avenue & Road guideline value

The current guideline value of Sundeep Avenue & Road in Neelankarai village, under the Neelankarai SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Sundeep Avenue & Road has changed

Since the 2002 revision, the guideline value for Sundeep Avenue & Road has seen significant changes. In 2002, the guideline value was Rs 329 per sq.ft, which increased to Rs 421 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,500 per sq.ft in 2007, and it further increased to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase has been +1237%. The most notable jumps occurred between 2003 and 2007 (+256%) and 2007 to 2012 (+167%). The value saw a decrease of -33% from 2012 to 2017, followed by a rise of +49% from 2017 to 2023, and a final increase of +10% from 2023 to 2024.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making the 2024 guideline value of Sundeep Avenue & Road above this median. Below are the guideline values for other streets in Neelankarai:

• Sundeep East 1st Street: Rs 3,300 per sq.ft (2024)
• Sundeep East 2nd Street: Rs 3,300 per sq.ft (2024)
• Sundeep Nagar Link Salai: Rs 3,300 per sq.ft (2024)
• Sunny Vale: Rs 6,900 per sq.ft (2024)
• Sunrise Avenue: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 1st Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sundeep Avenue & Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total fees would amount to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundeep Avenue & Road?

The Sub Registrar Office that covers Sundeep Avenue & Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Neelankarai, the guideline value plays a crucial role in determining the fees associated with the registration process. The guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

It is important for buyers and sellers to be aware of the current guideline value as it can significantly impact the overall cost involved in property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps in budgeting for the associated costs.

Frequently asked questions

What is the current guideline value of Sundeep Avenue & Road?

The current guideline value of Sundeep Avenue & Road is Rs 4,400 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 329 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing an overall increase of +1237% over the years.

What are the stamp duty and registration fees for property in Sundeep Avenue & Road?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Sundeep Avenue & Road?

The Neelankarai Sub Registrar Office handles registrations for Sundeep Avenue & Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined in Neelankarai?

The guideline value in Neelankarai is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values across various streets in the area.