Guideline Value for Sudaram 3rd Lane

Sudaram 3rd Lane guideline value

The current guideline value of Sudaram 3rd Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Sudaram 3rd Lane has changed

Over the years, the guideline value for Sudaram 3rd Lane has seen significant changes. In the 2007 revision, the value was set at Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 233%. However, it decreased to Rs 2,680 per sq.ft in the 2017 revision, a drop of 33%. The value then increased sharply to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

It is important to note that 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 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 guideline value of Sudaram 3rd Lane.

• Sudaram 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 4th Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 1st 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 3rd 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sudaram 3rd Lane?

The Sub Registrar Office that covers Sudaram 3rd 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 plays a crucial role in the registration process of property transactions in Muthiyalpet. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sudaram 3rd Lane?

The current guideline value of Sudaram 3rd 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, marking an overall increase of 267%.

What is the median guideline value in Muthiyalpet?

The median guideline value for the streets in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Sudaram 3rd Lane.

What are the stamp duty and registration fees for property in Sudaram 3rd 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 property registrations for Sudaram 3rd Lane?

The Sowcarpet Sub Registrar Office handles property registrations for Sudaram 3rd Lane, located at No.11, Davidson Street, Sowcarpet, Chennai-01.