Guideline Value for Sudarsan Nagar 1st Main Road

Sudarsan Nagar 1st Main Road guideline value

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

How the guideline value of Sudarsan Nagar 1st Main Road has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same in the subsequent 2017 revision, where it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, and the latest 2024 revision further increased it to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. The changes between the revisions indicate a 49% increase from 2017 to 2023, while the jump from 2023 to 2024 represents a 10% rise. 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, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, placing Sudarsan Nagar 1st Main Road above this median.

• Sudarsan Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 1st Street Link Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 1st Main Road

For a 1,000 sq.ft plot at the current rate, the 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. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudarsan Nagar 1st Main Road?

The Sub Registrar Office that covers Sudarsan Nagar 1st 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 here.

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

The guideline value plays a crucial role during property registration in Madambakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When you buy or sell property, the guideline value is referenced to ensure that the transaction is recorded accurately, reflecting the value of the property as per the government’s assessment. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 1st Main Road?

The current guideline value of Sudarsan Nagar 1st 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, then increased 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 for Sudarsan Nagar 1st Main Road?

Sudarsan Nagar 1st Main Road is classified as Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000 based on the current guideline value.

Where is the Sub Registrar Office located for this area?

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