Guideline Value for Sudaram 1st Lane

Sudaram 1st Lane guideline value

The current guideline value of Sudaram 1st Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This lane is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Sudaram 1st Lane has changed

The guideline value for Sudaram 1st Lane has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, this value decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has been revised to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with the 2024 guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Sudaram 1st Lane.

• Sudaram 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 3rd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 4th Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 5th Lane: Rs 4,400 per sq.ft (2024)
• Subramaniya Mudali Street: Rs 4,400 per sq.ft (2024)
• Sundara Mudali Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sudaram 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that 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 more details.

Which Sub Registrar Office covers Sudaram 1st Lane?

The Sub Registrar Office that covers Sudaram 1st Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor in property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. Ensuring compliance with the guideline value helps in smooth registration processes at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Sudaram 1st Lane?

The current guideline value of Sudaram 1st Lane is Rs 4,400 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 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267%.

What are the guideline values of other streets in Muthiyalpet?

Other streets in Muthiyalpet have guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft, with the median being Rs 4,400 per sq.ft.

What are the stamp duty and registration fees for properties in Sudaram 1st Lane?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Sudaram 1st Lane?

The Sowcarpet Sub Registrar Office at No.11, Davidson Street, Sowcarpet, Chennai-01 handles registrations for Sudaram 1st Lane.