Guideline Value for Vidvan Sundaramudali Street

Vidvan Sundaramudali Street guideline value

The current guideline value of Vidvan Sundaramudali Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vidvan Sundaramudali Street has changed

The guideline value for Vidvan Sundaramudali Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 2,800 per sq.ft. This increased to Rs 6,000 per sq.ft in the 2012 revision, marking a substantial increase of 114%. However, the value then decreased to Rs 4,020 per sq.ft in the 2017 revision, a decline of 33%. The value rose again to Rs 6,000 per sq.ft in the 2023 revision, and most recently, it increased by 10% to the current Rs 6,600 per sq.ft in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 136%. It is important to note that the register has no figures for Vidvan Sundaramudali Street in the years 2002 and 2003.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Vidvan Sundaramudali Street's current value below that median.

• Vijayalakshmi Street: Rs 7,700 per sq.ft (2024)
• Wallace Garden: Rs 9,900 per sq.ft (2024)
• Wallace Garden 1st Street: Rs 9,900 per sq.ft (2024)
• Wallace Garden 2nd Street: Rs 9,900 per sq.ft (2024)
• Wallace Garden 3rd Street: Rs 9,900 per sq.ft (2024)
• Velayutham Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vidvan Sundaramudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total charges Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vidvan Sundaramudali Street?

The Sub Registrar Office that covers Vidvan Sundaramudali Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Nungambakkam. It serves as a benchmark for determining the minimum value of properties in the area, ensuring that transactions are recorded at a fair value for taxation purposes.

When registering a property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs that buyers must consider. These fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Vidvan Sundaramudali Street?

The current guideline value of Vidvan Sundaramudali Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 136% over this period.

What is the classification of land on Vidvan Sundaramudali Street?

Vidvan Sundaramudali Street is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Vidvan Sundaramudali Street?

The Sub Registrar Office for Vidvan Sundaramudali Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Nungambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000.