Guideline Value for sundar nagar 2nd Avenue

sundar nagar 2nd Avenue guideline value

The current guideline value for Sundar Nagar 2nd Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Nandhambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of sundar nagar 2nd Avenue has changed

The guideline value for Sundar Nagar 2nd Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, this value dropped to Rs 3,350 per sq.ft in 2017. The 2023 revision set the guideline value at Rs 5,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Nandhambakkam

In Nandhambakkam, there are 76 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft, with a median value of Rs 3,900 per sq.ft. Sundar Nagar 2nd Avenue's 2024 figure is above this median.

• Sundar Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 3rd Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 4th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 5th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 6th Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in sundar nagar 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 sundar nagar 2nd Avenue?

The Sub Registrar Office that covers Sundar Nagar 2nd Avenue is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO online.

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

The guideline value plays a crucial role during the registration of property transactions in Nandhambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of sundar nagar 2nd Avenue?

The current guideline value of Sundar Nagar 2nd Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% over this period.

What is the land classification for sundar nagar 2nd Avenue?

Sundar Nagar 2nd Avenue is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for properties in sundar nagar 2nd Avenue?

The Alandur Sub Registrar Office handles registrations for properties in Sundar Nagar 2nd Avenue, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.