Guideline Value for Sudarsan Nagar 1st Street Link Road

Sudarsan Nagar 1st Street Link Road guideline value

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

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

Over the years, the guideline value for Sudarsan Nagar 1st Street Link Road has seen several revisions. The earliest recorded figure is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The 2023 revision then increased the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes, from 2017 to 2023, there was a significant increase of 49%. After the 2012 revision, the value dropped by 33% to Rs 2,010 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value 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 Street Link Road above this median at Rs 3,300 per sq.ft.

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

Stamp duty and registration fee for property in Sudarsan Nagar 1st Street Link 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, while 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 1st Street Link Road?

The Sub Registrar Office that covers Sudarsan Nagar 1st Street Link 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 details.

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

The guideline value is a crucial factor during property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When buying or selling property, the guideline value helps establish a baseline for the transaction price. It is essential to consider this value as it can influence negotiations and the final sale price agreed upon by both parties.

Frequently asked questions

What is the current guideline value for Sudarsan Nagar 1st Street Link Road?

The current guideline value for Sudarsan Nagar 1st Street Link 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 several times, with the most recent increase being from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which is lower than the current guideline value of Rs 3,300 per sq.ft for Sudarsan Nagar 1st Street Link Road.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in this area is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sudarsan Nagar 1st Street Link Road?

The Sub Registrar Office for Sudarsan Nagar 1st Street Link 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.