Guideline Value for Sunkurama street

Sunkurama street guideline value

The current guideline value of Sunkurama street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sunkurama street has changed

Over the years, the guideline value of Sunkurama street has seen significant changes. In 2007, the guideline value was Rs 2,600 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, a rise of 169%. However, it then decreased to Rs 4,690 per sq.ft in 2017, marking a decline of 33%. The value rebounded to Rs 7,000 per sq.ft in 2023, and further increased to Rs 7,700 per sq.ft in 2024, reflecting a growth of 10%.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 196%. The revisions for the years 2002 and 2003 do not have any figures recorded for Sunkurama street.

Guideline values in Muthialpet

In Muthialpet village, there are 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, placing Sunkurama street's 2024 figure above this median.

• Sultan street: Rs 5,500 per sq.ft (2024)
• Tailor lane: Rs 4,900 per sq.ft (2024)
• Subbu street+: Rs 5,500 per sq.ft (2024)
• Thakar lane: Rs 7,100 per sq.ft (2024)
• Thakar Street: Rs 7,100 per sq.ft (2024)
• Thambu Chetty Street 4th segment (Mannady Street to Ibrahim Street Junction): Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sunkurama street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty, charged at 7%, would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total cost for stamp duty and registration fee would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sunkurama street?

The Sub Registrar Office that covers Sunkurama street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Muthialpet. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is considered the minimum value for the transaction. The stamp duty is calculated based on this value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sunkurama street?

The current guideline value of Sunkurama street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 2,600 per sq.ft to Rs 7,700 per sq.ft in 2024, representing an overall increase of 196%.

What are the guideline values of other streets in Muthialpet?

Other streets in Muthialpet have varying guideline values, with Sultan street and Subbu street+ both at Rs 5,500 per sq.ft, while Thambu Chetty Street 4th segment is at Rs 8,800 per sq.ft in 2024.

How is stamp duty calculated for properties in Sunkurama 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 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Sunkurama street?

The Sub Registrar Office for Sunkurama street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.