Guideline Value for Sushilammal Nagar

Sushilammal Nagar guideline value

The current guideline value of Sushilammal Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Chikkarayapuram village under the Kunrathur SRO, classified as Mixed Special Type - I.

How the guideline value of Sushilammal Nagar has changed

The guideline value for Sushilammal Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft, which decreased to Rs 938 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 92%, bringing the value to Rs 1,800 per sq.ft. The most recent revision in 2024 saw another increase of 10%, raising the guideline value to Rs 1,980 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 41%.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value is Rs 1,980 per sq.ft, which is equal to the guideline value of Sushilammal Nagar.

• Sunder Avenue Annexe: Rs 1,760 per sq.ft (2024)
• Sunder Avenue: Rs 1,980 per sq.ft (2024)
• Sueelambal Nagar: Rs 1,870 per sq.ft (2024)
• Subramani Nagar: Rs 1,980 per sq.ft (2024)
• Subbiya Nagar: Rs 1,980 per sq.ft (2024)
• Thangam Avenue Phase II: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Sushilammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total fees together Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sushilammal Nagar?

The Sub Registrar Office covering Sushilammal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chikkarayapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers adhere to the legal requirements set by the Registration Department.

When purchasing or selling property, the guideline value helps in establishing a fair price for the transaction, assisting in the assessment of taxes owed. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sushilammal Nagar?

The current guideline value of Sushilammal Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification of Sushilammal Nagar?

Sushilammal Nagar is classified as Mixed Special Type - I, which reflects its zoning and usage regulations.

Where can I find the Sub Registrar Office for Sushilammal Nagar?

The Sub Registrar Office for Sushilammal Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Sushilammal Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600.