Guideline Value for Sudarsan Nagar 10th Street

Sudarsan Nagar 10th Street guideline value

The current guideline value of Sudarsan Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Sudarsan Nagar 10th Street has changed

The guideline value for Sudarsan Nagar 10th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 3,000 per sq.ft. This value decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, in the latest revision in 2024, the value increased significantly to Rs 3,300 per sq.ft, representing a rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Sudarsan Nagar 10th Street's 2024 value above this median.

• Sudarsan Nagar: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 10th Street

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 essential to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudarsan Nagar 10th Street?

The Sub Registrar Office that covers Sudarsan Nagar 10th Street 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 critical factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the buyer and seller must ensure that the sale price is in line with the guideline value to avoid any discrepancies during the registration process. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 10th Street?

The current guideline value of Sudarsan Nagar 10th Street 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, and then increased to Rs 3,300 per sq.ft in 2024. This reflects a decline from 2012 to 2017, followed by a significant increase to 2024.

What is the land classification for Sudarsan Nagar 10th Street?

Sudarsan Nagar 10th Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

Where is the Selaiyur Sub Registrar Office located?

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

How is stamp duty calculated for properties in Sudarsan Nagar 10th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 2,31,000 based on the current guideline value.