Guideline Value for SUDHANTHIRA NAGAR 1ST STREET

Sudhanthira Nagar 1st Street guideline value

The current guideline value of Sudhanthira Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Sudhanthira Nagar 1st Street has changed

The guideline value for Sudhanthira Nagar 1st Street has undergone several revisions over the years. In 2002, the guideline value was Rs 612 per sq.ft. It increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 900 per sq.ft, reflecting a 32% increase. The value then saw a substantial jump to Rs 3,000 per sq.ft in 2012, which was a 233% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, showing a decline of 33%. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 439%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Sudhanthira Nagar 1st Street's 2024 figure below that median.

• Sudhanthira Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sudukadu Hut Area: Rs 3,300 per sq.ft (2024)
• Sullivan Street: Rs 7,700 per sq.ft (2024)
• Sundara Gramani Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sudhanthira Nagar 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sudhanthira Nagar 1st Street?

The Sub Registrar Office that covers Sudhanthira Nagar 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value is an important factor in property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sudhanthira Nagar 1st Street?

The current guideline value of Sudhanthira Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 439% over this period.

What is the land classification for Sudhanthira Nagar 1st Street?

Sudhanthira Nagar 1st Street is classified as Residential Class V Type - III.

What are the stamp duty and registration fees for this street?

For a property valued at the current guideline value of Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Sudhanthira Nagar 1st Street located?

The Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.