Guideline Value for Sudarsan Nagar 2nd Main Road

Sudarsan Nagar 2nd Main Road guideline value

The current guideline value of Sudarsan Nagar 2nd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madambakkam village under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Sudarsan Nagar 2nd Main Road has changed

The guideline value for Sudarsan Nagar 2nd Main Road has undergone 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 the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure.

From 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 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, with a median value of Rs 2,400 per sq.ft. The guideline value of Sudarsan Nagar 2nd Main Road is above this median.

• Sudarsan Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 1st Street Link Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 2nd Main Road

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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudarsan Nagar 2nd Main Road?

The Sub Registrar Office that covers Sudarsan Nagar 2nd 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 for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official rates set by the government.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 2nd Main Road?

The current guideline value of Sudarsan Nagar 2nd 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, and then increased to Rs 3,300 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What is the land classification of Sudarsan Nagar 2nd Main Road?

Sudarsan Nagar 2nd Main Road is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Sudarsan Nagar 2nd Main Road?

The Sub Registrar Office for Sudarsan Nagar 2nd Main Road 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 Sudarsan Nagar 2nd Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the stamp duty would be Rs 2,31,000.