Guideline Value for Sudarsan Nagar 12th Street

Sudarsan Nagar 12th Street guideline value

The current guideline value of Sudarsan Nagar 12th 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 12th Street has changed

The guideline value for Sudarsan Nagar 12th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2024, the value increased significantly to Rs 3,300 per sq.ft, marking a 64% rise. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2023 for this street. Thus, the only available revisions are from 2012, 2017, and the current 2024 revision.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Sudarsan Nagar 12th Street is above this median.

• Sudarsan Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar: 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 12th 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 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 Sudarsan Nagar 12th Street?

The Sub Registrar Office that covers Sudarsan Nagar 12th 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 details.

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

The guideline value plays a crucial role in the registration process for property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 12th Street?

The current guideline value of Sudarsan Nagar 12th 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. Overall, from 2012 to 2024, there has been a 10% increase.

What are the stamp duty rates for properties in Madambakkam?

The stamp duty rate for properties in Madambakkam is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

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.

What is the land classification of Sudarsan Nagar 12th Street?

Sudarsan Nagar 12th Street is classified as Residential Special Type - III, according to the guidelines provided by the Selaiyur SRO.