Guideline Value for Sudarsan Nagar 2nd Cross Street

Sudarsan Nagar 2nd Cross Street guideline value

The current guideline value of Sudarsan Nagar 2nd Cross 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 2nd Cross Street has changed

The guideline value for Sudarsan Nagar 2nd Cross Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, the value increased significantly by 49% to Rs 3,000 per sq.ft in 2023, and then further rose by 10% to the current value of Rs 3,300 per sq.ft in 2024.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been a net increase of 10% in the guideline value.

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 guideline value in the village is Rs 2,400 per sq.ft, making the current value of Sudarsan Nagar 2nd Cross Street above this median.

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

Stamp duty and registration fee for property in Sudarsan Nagar 2nd Cross 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, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. Note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sudarsan Nagar 2nd Cross Street?

The Sub Registrar Office that covers Sudarsan Nagar 2nd Cross 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 factor when registering property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller approaches the Sub Registrar Office, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 2nd Cross Street?

The current guideline value of Sudarsan Nagar 2nd Cross 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 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 of Sudarsan Nagar 2nd Cross Street?

Sudarsan Nagar 2nd Cross Street is classified as Residential Special Type - III.

Where can I find the Selaiyur Sub Registrar Office?

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 2nd Cross Street?

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