Guideline Value for Sudarsan Nagar Extension 2nd Street

Sudarsan Nagar Extension 2nd Street guideline value

The current guideline value of Sudarsan Nagar Extension 2nd 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 Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of Sudarsan Nagar Extension 2nd Street has changed

The guideline value for Sudarsan Nagar Extension 2nd Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the 2012 figure.

There are no recorded guideline values for the years 2023, 2017, 2007, 2003, and 2002 for this street. Therefore, the only figures available are from the 2012 and 2024 revisions.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have 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 Extension 2nd Street's 2024 figure is above this median.

• Sudarsan Nagar Extension 1st Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 3rd Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 14th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 4th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 13th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar Extension 2nd 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 is calculated at 7%, which comes to Rs 2,31,000, and the registration fee is at 2%, amounting to Rs 66,000. Together, the total cost for these fees is 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.

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

Which Sub Registrar Office covers Sudarsan Nagar Extension 2nd Street?

The Sub Registrar Office that covers Sudarsan Nagar Extension 2nd 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 plays a crucial role during property registration in Madambakkam. It serves as a reference for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar Extension 2nd Street?

The current guideline value of Sudarsan Nagar Extension 2nd 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 for this street was Rs 3,000 per sq.ft in 2012 and increased to Rs 3,300 per sq.ft in 2024, marking a 10% rise. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. The guideline value for Sudarsan Nagar Extension 2nd Street is above this median.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees amount to Rs 2,97,000.

Which office handles registrations for Sudarsan Nagar Extension 2nd Street?

The Selaiyur Sub Registrar Office handles registrations for Sudarsan Nagar Extension 2nd Street. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.