Guideline Value for Sundeep East 1st Street

Sundeep East 1st Street guideline value

The current guideline value of Sundeep East 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sundeep East 1st Street has changed

The guideline value for Sundeep East 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase from Rs 3,000 per sq.ft in 2023, representing a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 2,010 per sq.ft, showing a significant increase of 49% by 2023. The 2012 revision had the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sundeep East 1st Street is above this median.

• Sundeep Avenue & Road: Rs 4,400 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 East 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundeep East 1st Street?

The Sub Registrar Office that covers Sundeep East 1st Street 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

The guideline value plays a crucial role when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is the basis for these calculations, and it is essential to check the current rates before proceeding with any transactions.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value as determined by the local authorities. This helps maintain transparency in property dealings and ensures that the correct taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Sundeep East 1st Street?

The current guideline value of Sundeep East 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017, which increased by 49% to 2023.

What is the land classification for Sundeep East 1st Street?

Sundeep East 1st Street is classified as Residential Class II Type - I.

Where can I find the registration office for Sundeep East 1st Street?

The registration office for Sundeep East 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is stamp duty calculated for properties in Sundeep East 1st 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 33,00,000, the stamp duty would be Rs 2,31,000 at the rate of 7%.