Guideline Value for SUDUKADU HUT AREA

Sudukadu Hut Area guideline value

The current guideline value of Sudukadu Hut Area is Rs 3,300 per sq.ft, effective from 1 July 2024. This area 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 Sudukadu Hut Area has changed

The guideline value for Sudukadu Hut Area has seen several revisions over the years. In 2002, the guideline value was Rs 602 per sq.ft. This increased to Rs 669 per sq.ft in 2003, marking an 11% rise. The value continued to increase significantly to Rs 900 per sq.ft in 2007, reflecting a 35% change. By 2012, the value was revised to Rs 3,000 per sq.ft, which represented a substantial 233% increase from the previous figure.

In 2017, the guideline value was set at Rs 2,010 per sq.ft, showing a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has been increased to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 448%. There are no figures for the years not listed in the register for this street.

Guideline values in Mylapore

In Mylapore village, 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, indicating that the guideline value for Sudukadu Hut Area is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total fees would be Rs 2,97,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Sudukadu Hut Area?

The Sudukadu Hut Area is covered by 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 is an essential factor in property transactions in Mylapore. It serves as a basis for calculating the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the official value of the property for taxation purposes. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Sudukadu Hut Area?

The current guideline value of Sudukadu Hut Area 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 602 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 448% over the years.

What is the stamp duty rate for properties in Sudukadu Hut Area?

The stamp duty rate for properties in Sudukadu Hut Area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sudukadu Hut Area?

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

What is the land classification for Sudukadu Hut Area?

The land classification for Sudukadu Hut Area is Residential Class V Type - III.