Guideline Value for Sudamani Street

Sudamani Street guideline value

The current guideline value of Sudamani Street in Hastinapuram village, under the Pallavaram SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Sudamani Street has changed

The guideline value for Sudamani Street has seen several revisions over the years. In the 2007 revision, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a rise of 275%. However, the 2017 revision saw a decrease to Rs 1,005 per sq.ft, a drop of 33%. The value then rose to Rs 1,500 per sq.ft in the 2023 revision, followed by the current 2024 value of Rs 1,650 per sq.ft, reflecting a 10% increase.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by a total of 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Sudamani Street's 2024 figure below the median.

• Subramani Street: Rs 1,650 per sq.ft (2024)
• Station Border Road: Rs 2,970 per sq.ft (2024)
• State Bank Colony: Rs 3,850 per sq.ft (2024)
• Sundarthamman Colony: Rs 3,300 per sq.ft (2024)
• Thiropathi Nagar: Rs 1,650 per sq.ft (2024)
• Sriram Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudamani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudamani Street?

The Sub Registrar Office that covers Sudamani Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that transactions are conducted transparently and fairly.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This means that buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sudamani Street?

The current guideline value of Sudamani Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the land classification of Sudamani Street?

Sudamani Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in Sudamani Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office do I need to visit for registration of property in Sudamani Street?

The Pallavaram Sub Registrar Office is responsible for the registration of properties in Sudamani Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.