Guideline Value for Sudarsan Nagar 7th Street

Sudarsan Nagar 7th Street guideline value

The current guideline value of Sudarsan Nagar 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur Sub Registrar Office (SRO), and is classified as Residential Special Type - III.

How the guideline value of Sudarsan Nagar 7th Street has changed

The guideline value for Sudarsan Nagar 7th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase from Rs 2,010 per sq.ft in the 2017 revision. This marks a significant rise of 64% between the 2017 and 2024 revisions. Prior to that, in 2012, the guideline value was Rs 3,000 per sq.ft, which represented a decrease of 33% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing Sudarsan Nagar 7th Street's 2024 figure above that median.

• Sudarsan Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, resulting in a total of 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudarsan Nagar 7th Street?

The Sub Registrar Office covering Sudarsan Nagar 7th 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 is a crucial factor in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers need to pay when purchasing property.

When selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as assessed by the Registration Department. This value helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 7th Street?

The current guideline value of Sudarsan Nagar 7th 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 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 7th Street?

Sudarsan Nagar 7th Street is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Sudarsan Nagar 7th Street?

The Selaiyur Sub Registrar Office handles property registrations for Sudarsan Nagar 7th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.