Guideline Value for Nuthanjeri Sudalai Salai

Nuthanjeri Sudalai Salai guideline value

The current guideline value of Nuthanjeri Sudalai Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Nuthanjeri Sudalai Salai has changed

The guideline value for Nuthanjeri Sudalai Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest 2024 revision has further raised it to Rs 2,200 per sq.ft. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Nuthanjeri Sudalai Salai is below this median.

• Nuthanjeri Colony Street: Rs 2,750 per sq.ft (2024)
• Nuthanjeri Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• North Mada Street: Rs 1,900 per sq.ft (2024)
• N.K Kumarasamy Estste: Rs 2,200 per sq.ft (2024)
• Orange County: Rs 1,600 per sq.ft (2024)
• New Jerusalam Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nuthanjeri Sudalai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that 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 Nuthanjeri Sudalai Salai?

The Nuthanjeri Sudalai Salai is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a crucial factor during property registration in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the associated costs.

When a property is bought or sold, the guideline value is used to assess the transaction's worth for tax purposes. This ensures that the government receives the appropriate fees based on the established values, which are periodically revised to reflect market conditions.

Frequently asked questions

What is the current guideline value of Nuthanjeri Sudalai Salai?

The current guideline value of Nuthanjeri Sudalai Salai is Rs 2,200 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 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Nuthanjeri Sudalai Salai?

Nuthanjeri Sudalai Salai is classified as Residential Special Type - I under the land classification in Madambakkam village.

Where can I find the registration office for Nuthanjeri Sudalai Salai?

The Selaiyur Sub Registrar Office covers Nuthanjeri Sudalai Salai, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Nuthanjeri Sudalai Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.