Guideline Value for Sudarsan Nagar 3rd Street

Sudarsan Nagar 3rd Street guideline value

The current guideline value of Sudarsan Nagar 3rd 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 3rd Street has changed

The guideline value for Sudarsan Nagar 3rd Street has undergone several revisions over the years. 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. In 2023, the value increased to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

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 across these streets is Rs 2,400 per sq.ft, positioning Sudarsan Nagar 3rd Street above this median.

• Sudarsan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 3rd 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. 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 3rd Street?

The Sub Registrar Office covering Sudarsan Nagar 3rd 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.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 3rd Street?

The current guideline value of Sudarsan Nagar 3rd 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 back 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 3rd Street?

Sudarsan Nagar 3rd Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Sudarsan Nagar 3rd Street?

The Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, is responsible for handling registrations for Sudarsan Nagar 3rd Street.