Guideline Value for Sundram Nagar Extension

Sundram Nagar Extension guideline value

The current guideline value of Sundram Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sundram Nagar Extension has changed

Over the years, the guideline value of Sundram Nagar Extension has seen several revisions. The earliest recorded figure is from 2007, set at Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, the value dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an increase of 61% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur village, there are a total of 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value for Sundram Nagar Extension is below this median.

• Sundram Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Sundram Pannai: Rs 2,200 per sq.ft (2024)
• Sundaram Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sundaram Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• S.V.M. Nagar: Rs 2,700 per sq.ft (2024)
• Subramaniyapuram Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundram Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sundram Nagar Extension?

The Sembiam Sub Registrar Office covers Sundram Nagar Extension. The office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is assessed, and the applicable duties are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sundram Nagar Extension?

The current guideline value of Sundram Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, an overall increase of 286%.

What is the land classification for Sundram Nagar Extension?

The land classification for Sundram Nagar Extension is Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a plot valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.