Guideline Value for Sudaram 5th Lane

Sudaram 5th Lane guideline value

The current guideline value of Sudaram 5th 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 5th Lane has changed

The guideline value for Sudaram 5th Lane has undergone several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 233% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, representing a 33% drop. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for Sudaram 5th Lane. Overall, from 2007 to 2024, the guideline value has increased by 267%.

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 5th Lane.

• Sudaram 4th Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 3rd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 2nd Lane: Rs 4,400 per sq.ft (2024)
• Sudaram 1st 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 5th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total cost of 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudaram 5th Lane?

The Sub Registrar Office covering Sudaram 5th Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the current guideline value, as it influences the overall costs involved in the transaction. Buyers should ensure they are informed about the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sudaram 5th Lane?

The current guideline value of Sudaram 5th 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 seen several changes, with the most recent increase being from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, a 10% rise. Overall, from 2007 to 2024, the value has increased by 267%.

What is the stamp duty rate for property transactions in Sudaram 5th Lane?

The stamp duty rate for property transactions in Sudaram 5th Lane is 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in Muthiyalpet?

The registration fee for properties in Muthiyalpet is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sudaram 5th Lane?

The Sub Registrar Office covering Sudaram 5th Lane is located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find more information about it online.