Guideline Value for Suthanthrapuram

Suthanthrapuram guideline value

The current guideline value of Suthanthrapuram is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Suthanthrapuram has changed

Over the years, the guideline value of Suthanthrapuram has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it was reduced to Rs 1,005 per sq.ft. The subsequent 2023 revision increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,650 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. Notably, the change from the 2023 to the 2024 revision reflects a 10% increase, while the jump from 2017 to 2023 was a significant 49% increase. The reduction from 2012 to 2017 was 33%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Suthanthrapuram is below this median.

• Sweeper Quarters: Rs 1,320 per sq.ft (2024)
• Tambaram Mayor Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Thangavel Street: Rs 2,200 per sq.ft (2024)
• Subbiah Nagar: Rs 2,200 per sq.ft (2024)
• Subash Nagar: Rs 3,300 per sq.ft (2024)
• State Bank Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Suthanthrapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Suthanthrapuram?

The Sub Registrar Office that covers Suthanthrapuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Tambaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are transparent and fair.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Suthanthrapuram?

The current guideline value of Suthanthrapuram is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between reflecting increases and decreases.

What are the other streets in Tambaram and their guideline values?

Other streets in Tambaram have varying guideline values, with Sweeper Quarters and Tambaram Mayor Radhakrishnan Nagar both at Rs 1,320 per sq.ft, and Thangavel Street and Subbiah Nagar at Rs 2,200 per sq.ft in 2024.

How is stamp duty calculated in Suthanthrapuram?

Stamp duty in Suthanthrapuram is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Suthanthrapuram?

The Sub Registrar Office for Suthanthrapuram is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the relevant link.