Guideline Value for Sudarsan Nagar Main Road

Sudarsan Nagar Main Road guideline value

The current guideline value of Sudarsan Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village under the Selaiyur SRO, and it is classified as Residential Special Type - III.

How the guideline value of Sudarsan Nagar Main Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value saw a significant increase of 64%, rising to the current rate of Rs 3,300 per sq.ft.

The register has no figure for the years 2023, 2007, 2003, and 2002 for this street. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10% in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Sudarsan Nagar Main Road is above this median.

• Sudarsan Nagar Madampakkam Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar-Sannathi Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Gnanadha Nagar Link Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 9th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 8th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sudarsan Nagar Main Road?

The Sub Registrar Office that covers Sudarsan Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Madambakkam. It serves as a benchmark for the value of the property and is used by the registration department to calculate the applicable charges.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar Main Road?

The current guideline value of Sudarsan Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, before increasing to Rs 3,300 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What is the land classification for Sudarsan Nagar Main Road?

Sudarsan Nagar Main Road is classified as Residential Special Type - III, indicating its suitability for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sudarsan Nagar Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.