Guideline Value for Sundram Pannai

Sundram Pannai guideline value

The current guideline value of Sundram Pannai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam Sub Registrar Office (SRO) and falls under the Residential Class IV Type - I land classification.

How the guideline value of Sundram Pannai has changed

Over the years, the guideline value for Sundram Pannai has seen significant changes. Starting from Rs 237 per sq.ft in 2002, it increased to Rs 257 per sq.ft in 2003, marking an 8% rise. The value then surged to Rs 700 per sq.ft in 2007, reflecting a substantial increase of 172%. In 2012, the guideline value reached Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. The 2023 revision also recorded Rs 2,000 per sq.ft, and the latest revision in 2024 saw an increase to Rs 2,200 per sq.ft, a 10% rise from the previous year.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 828%, showcasing a significant upward trend over the years.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Sundram Pannai's 2024 figure is below this median.

• Sundram Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Sundram Nagar Extension: Rs 2,700 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 Pannai

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, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundram Pannai?

The Sub Registrar Office that covers Sundram Pannai is the Sembiam Sub Registrar Office, 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

When buying or selling property in Kolathur, the guideline value plays a crucial role in determining the registration fees and stamp duty applicable to the transaction. The guideline value is used to assess the minimum value for property transactions, ensuring that the government receives appropriate revenue from property sales.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that both buyers and sellers adhere to the legal requirements set forth by the government.

Frequently asked questions

What is the current guideline value of Sundram Pannai?

The current guideline value of Sundram Pannai 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 increased from Rs 237 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 828% over this period.

What are the stamp duty and registration fees for property in Sundram Pannai?

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.

Which Sub Registrar Office covers Sundram Pannai?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Sundram Pannai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property transactions, which affects the stamp duty and registration fees that buyers and sellers must pay during the registration process.