Guideline Value for Sudarsan Nagar 2nd Street

Sudarsan Nagar 2nd Street guideline value

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

How the guideline value of Sudarsan Nagar 2nd Street has changed

The guideline value for Sudarsan Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, the latest revision in 2024 saw a significant increase to Rs 3,300 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2024, the value increased by 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%. 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 Street is above this median.

• Sudarsan Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 1st Street Link Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 2nd 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 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. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudarsan Nagar 2nd Street?

The Sub Registrar Office that covers Sudarsan Nagar 2nd 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 in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sudarsan Nagar 2nd 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, and then increased to Rs 3,300 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024.

What is the land classification for Sudarsan Nagar 2nd Street?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Sudarsan Nagar 2nd Street located?

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