Guideline Value for Sudarsan Nagar 8th Street

Sudarsan Nagar 8th Street guideline value

The current guideline value of Sudarsan Nagar 8th 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 8th Street has changed

Looking at the revisions, the guideline value for Sudarsan Nagar 8th Street has seen significant changes 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 the 2017 revision. However, from 2017 to 2023, the value increased by 49% to reach Rs 3,000 per sq.ft. The most recent 2024 revision has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for Sudarsan Nagar 8th Street. Overall, from 2012 to 2024, 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, with a median value of Rs 2,400 per sq.ft. The guideline value of Sudarsan Nagar 8th Street is above this median.

• Sudarsan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar 8th 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, making the total cost 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.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sudarsan Nagar 8th Street?

The Sub Registrar Office covering Sudarsan Nagar 8th 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 an essential factor in property transactions in Madambakkam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the registration of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the higher of the guideline value or the sale price is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar 8th Street?

The current guideline value of Sudarsan Nagar 8th 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, which increased by 49% to Rs 3,000 per sq.ft in 2023.

What is the land classification of Sudarsan Nagar 8th Street?

Sudarsan Nagar 8th Street is classified as Residential Special Type - III. This classification indicates the type of development and usage permitted in the area.

Where can I find the Selaiyur Sub Registrar Office?

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

How is the stamp duty calculated for properties in Sudarsan Nagar 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.