Guideline Value for Sudaram 2nd Lane

Sudaram 2nd Lane guideline value

The current guideline value of Sudaram 2nd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Sudaram 2nd Lane has changed

The guideline value for Sudaram 2nd Lane has undergone several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a significant increase of 233%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value saw a substantial rise to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value of Sudaram 2nd Lane.

• Sudaram 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sudaram 2nd Lane?

The Sub Registrar Office that covers Sudaram 2nd Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Muthiyalpet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the state authorities.

When you buy or sell property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and helps in maintaining a standard across property transactions in the area.

Frequently asked questions

What is the current guideline value of Sudaram 2nd Lane?

The current guideline value of Sudaram 2nd 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 from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the land classification for Sudaram 2nd Lane?

Sudaram 2nd Lane is classified under Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for Sudaram 2nd Lane?

The Sowcarpet Sub Registrar Office covers Sudaram 2nd Lane and is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is stamp duty calculated for properties in Sudaram 2nd Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 3,08,000.