Guideline Value for Sudarsan Nagar 6th Street

Sudarsan Nagar 6th Street guideline value

The current guideline value of Sudarsan Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sudarsan Nagar 6th Street has changed

The guideline value for Sudarsan Nagar 6th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This marked a decline of 33%. However, the most recent revision in 2024 increased the guideline value to Rs 3,300 per sq.ft, reflecting a significant rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1151 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 guideline value in this area is Rs 2,400 per sq.ft, indicating that Sudarsan Nagar 6th Street's 2024 figure of Rs 3,300 per sq.ft is above the median.

• Sudarsan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the 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 6th Street?

The Sub Registrar Office that covers Sudarsan Nagar 6th 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 a property in Madambakkam. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 6th Street?

The current guideline value of Sudarsan Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft in 2024, with a notable decline to Rs 2,010 per sq.ft in 2017 before rising again.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,97,000.

Which office handles property registrations for Sudarsan Nagar 6th Street?

The Selaiyur Sub Registrar Office is responsible for property registrations in Sudarsan Nagar 6th Street, located in East Tambaram, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum registration value of a property, influencing the stamp duty and registration fees payable during a transaction.