Guideline Value for SUDHANTHIRA NAGAR 3RD STREET

Sudhanthira Nagar 3rd Street guideline value

The current guideline value of Sudhanthira Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Sudhanthira Nagar 3rd Street has changed

The guideline value for Sudhanthira Nagar 3rd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 612 per sq.ft. This figure increased to Rs 680 per sq.ft in 2003, marking an 11% change. The value continued to rise, reaching Rs 900 per sq.ft in 2007, which was a 32% increase from the previous figure. In 2012, the value was recorded at Rs 3,000 per sq.ft, showing a significant increase of 233% from 2007. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft, reflecting a 33% drop.

In the following years, the guideline value climbed again, with the 2023 revision setting it at Rs 3,000 per sq.ft, and then increasing by 10% to Rs 3,300 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 439%. There are no figures available for the revisions in years other than those listed.

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, where the median value is Rs 8,800 per sq.ft. Sudhanthira Nagar 3rd Street's current guideline value is below this median.

• Sudhanthira Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sudhanthira Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is charged at 7%, which totals Rs 2,31,000, and the registration fee is 2%, amounting to Rs 66,000. Together, these fees total Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Sudhanthira Nagar 3rd Street?

The Sub Registrar Office that covers Sudhanthira Nagar 3rd 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 information.

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

The guideline value plays a crucial role when buying or selling property in Mylapore. It serves as a benchmark for the minimum value on which stamp duty and registration fees are calculated during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sudhanthira Nagar 3rd Street?

The current guideline value of Sudhanthira Nagar 3rd 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, reflecting an overall increase of 439% over this period.

What is the land classification of Sudhanthira Nagar 3rd Street?

Sudhanthira Nagar 3rd Street is classified as Residential Class V Type - III.

Where can I find the Mylapore Sub Registrar Office?

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

How is stamp duty calculated for properties in Sudhanthira Nagar 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 2,97,000 in fees, including both stamp duty and registration fees.