Guideline Value for Sudarsan Nagar 1st Street

Sudarsan Nagar 1st Street guideline value

The current guideline value of Sudarsan Nagar 1st Street 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. The land classification for this area is Residential Special Type - III.

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

The guideline value for Sudarsan Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that 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 a 2024 guideline value range 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, positioning Sudarsan Nagar 1st Street above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total fees 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.

You can use our stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Sudarsan Nagar 1st Street?

The Sub Registrar Office that covers Sudarsan Nagar 1st 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, within 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 plays a crucial role 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. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to avoid penalties during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the true value of the property as per government standards.

Frequently asked questions

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

The current guideline value of Sudarsan Nagar 1st 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Sudarsan Nagar 1st Street?

The land classification for Sudarsan Nagar 1st Street is Residential Special Type - III, which indicates its designated use for residential purposes.

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

The Sub Registrar Office for Sudarsan Nagar 1st Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.