Guideline Value for Sudarsan Nagar 5th Street

Sudarsan Nagar 5th Street guideline value

The current guideline value of Sudarsan Nagar 5th 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 5th Street has changed

The guideline value for Sudarsan Nagar 5th Street has seen several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 3,000 per sq.ft. This figure was then revised to Rs 2,010 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 figure to the current 2024 revision, the guideline value has increased by 10%.

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. The median value for these streets is Rs 2,400 per sq.ft, making the 2024 guideline value for Sudarsan Nagar 5th Street above this median.

• Sudarsan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 5th 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 fees to Rs 2,97,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Sudarsan Nagar 5th Street?

The Sub Registrar Office that covers Sudarsan Nagar 5th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with the registration process. This value helps in establishing a fair basis for the taxation of property transactions, ensuring transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 5th Street?

The current guideline value of Sudarsan Nagar 5th 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 to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Sudarsan Nagar 5th Street?

For a 1,000 sq.ft plot, the total guideline value is 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 Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Sudarsan Nagar 5th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Sudarsan Nagar 5th Street?

Sudarsan Nagar 5th Street is classified as Residential Special Type - III, indicating its suitability for residential development.