Guideline Value for Sudarsan Nagar Extension 7th Street

Sudarsan Nagar Extension 7th Street guideline value

The current guideline value of Sudarsan Nagar Extension 7th 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 Extension 7th Street has changed

The guideline value for Sudarsan Nagar Extension 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in the 2017 revision. The value remained at Rs 3,000 per sq.ft in 2012 until it increased to Rs 3,300 per sq.ft in the 2023 revision, marking a 49% increase. The current revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this 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. Sudarsan Nagar Extension 7th Street's current guideline value of Rs 3,300 per sq.ft is above this median.

• Sudarsan Nagar Extension 6th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 8th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 5th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 9th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 4th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Gnanadha Nagar Link Road: Rs 3,300 per sq.ft (2024)

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

The Sub Registrar Office covering Sudarsan Nagar Extension 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 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. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when acquiring property.

When selling a property, the guideline value helps ensure that the transaction is transparent and fair. It provides a standardized value that can be referenced by both buyers and sellers, reducing disputes over property valuations during the registration process.

Frequently asked questions

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

The current guideline value of Sudarsan Nagar Extension 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 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Sudarsan Nagar Extension 7th Street?

The land classification for Sudarsan Nagar Extension 7th Street is Residential Special Type - III.

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 do I calculate stamp duty and registration fees?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. You can use the stamp duty and registration fee calculator for accurate calculations.