Guideline Value for Sudarsan Nagar 14th Street

Sudarsan Nagar 14th Street guideline value

The current guideline value of Sudarsan Nagar 14th 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 14th Street has changed

The guideline value for Sudarsan Nagar 14th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 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 in this area is Rs 2,400 per sq.ft, making the 2024 figure for Sudarsan Nagar 14th Street above the median.

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

Stamp duty and registration fee for property in Sudarsan Nagar 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudarsan Nagar 14th Street?

The Sub Registrar Office covering Sudarsan Nagar 14th 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 crucial component in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a buyer or seller approaches the registration office, the guideline value is assessed to calculate the applicable duties. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 14th Street?

The current guideline value of Sudarsan Nagar 14th 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, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Sudarsan Nagar 14th Street?

Sudarsan Nagar 14th Street is classified as Residential Special Type - III.

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.

How is stamp duty calculated for properties in Sudarsan Nagar 14th Street?

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