Guideline Value for Sudarsan Nagar Ext 1st Cross Street

Sudarsan Nagar Ext 1st Cross Street guideline value

The current guideline value of Sudarsan Nagar Ext 1st Cross 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 Ext 1st Cross Street has changed

Looking at the revisions over the years, the guideline value for Sudarsan Nagar Ext 1st Cross Street has seen several changes. The 2012 revision recorded a value of Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 3,000 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 to 2024 revisions, 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 Ext 1st Cross Street is above this median.

• Sudarsan Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar Ext 1st Cross 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, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudarsan Nagar Ext 1st Cross Street?

The Sub Registrar Office that covers Sudarsan Nagar Ext 1st Cross 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 in property transactions in Madambakkam, as it is used to determine the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure they comply with legal requirements and avoid any potential penalties.

When a property is sold, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. Conversely, if the sale price is lower, the duty will be based on the guideline value.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar Ext 1st Cross Street?

The current guideline value of Sudarsan Nagar Ext 1st Cross 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 increased 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 for Sudarsan Nagar Ext 1st Cross Street?

Sudarsan Nagar Ext 1st Cross 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 Ext 1st Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Sudarsan Nagar Ext 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.