Guideline Value for Sunshine Nagar

Sunshine Nagar guideline value

The current guideline value of Sunshine Nagar, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sunshine Nagar has changed

The guideline value for Sunshine Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This figure was reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, making Sunshine Nagar's 2024 figure below that median.

• Sun Ville: Rs 3,450 per sq.ft (2024)
• Sundar Nagar Extn: Rs 1,320 per sq.ft (2024)
• Sundar Nagar: Rs 1,320 per sq.ft (2024)
• S.V. Nagar: Rs 770 per sq.ft (2024)
• Teachers Colony: Rs 990 per sq.ft (2024)
• Submangala Avenue: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sunshine Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sunshine Nagar?

The Gooduvancheri Sub Registrar Office covers Sunshine Nagar. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Mannivakkam. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the higher value between the guideline value and the sale price of the property.

When a property is sold, the buyer and seller must ensure that the transaction is registered at the appropriate Sub Registrar Office. The guideline value helps in establishing a transparent and standardized process for property transactions in the area.

Frequently asked questions

What is the current guideline value of Sunshine Nagar?

The current guideline value of Sunshine Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sunshine Nagar?

Sunshine Nagar is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in Sunshine Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles the registration for Sunshine Nagar?

The Gooduvancheri Sub Registrar Office handles the registration for Sunshine Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.