Guideline Value for SUDARMATHI NAGAR & EXT

Sudarmathi Nagar & Ext guideline value

The current guideline value of Sudarmathi Nagar & Ext is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Sirunagalur village and falls under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Sudarmathi Nagar & Ext has changed

The guideline value for Sudarmathi Nagar & Ext has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 201 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% back to Rs 300 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 300 per sq.ft.

Guideline values in Sirunagalur

In Sirunagalur, there are three streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft. The median value is Rs 300 per sq.ft, which is the same as the current value for Sudarmathi Nagar & Ext.

• Sri Venkateshwara Nagar Phase-I: Rs 600 per sq.ft (2024)
• Sri Srinivasa Perumal Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarmathi Nagar & Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 detailed calculations.

Which Sub Registrar Office covers Sudarmathi Nagar & Ext?

The Sub Registrar Office that covers Sudarmathi Nagar & Ext is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Sirunagalur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sudarmathi Nagar & Ext?

The current guideline value of Sudarmathi Nagar & Ext is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a drop to Rs 201 per sq.ft in 2017, followed by a return to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Sudarmathi Nagar & Ext?

Sudarmathi Nagar & Ext is classified as Residential Special Type - I under the Madurandakam SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations in Sudarmathi Nagar & Ext?

The Madurandakam Sub Registrar Office handles registrations for Sudarmathi Nagar & Ext, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.