Guideline Value for Sudarsan Nagar Extension 8th Street

Sudarsan Nagar Extension 8th Street guideline value

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

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained the same in the 2012 and 2017 revisions, but in 2017, it dropped to Rs 2,010 per sq.ft, marking a decrease of 33%. The value saw a significant increase in the 2023 revision, rising to Rs 3,000 per sq.ft, and then further increased to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The 2023 revision showed a 49% increase from the 2017 figure. Notably, the register has no figure for this street in the years 2002, 2003, and 2007.

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 for these streets is Rs 2,400 per sq.ft, placing Sudarsan Nagar Extension 8th Street's 2024 figure above that median.

• Sudarsan Nagar Extension 7th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 9th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 6th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Gnanadha Nagar Link Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 5th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Madampakkam Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar Extension 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, 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 and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sudarsan Nagar Extension 8th Street?

The Sub Registrar Office that covers Sudarsan Nagar Extension 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 crucial during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of Sudarsan Nagar Extension 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 seen several changes, with the most recent revision in 2024 increasing it to Rs 3,300 per sq.ft from Rs 3,000 per sq.ft in 2023. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for Sudarsan Nagar Extension 8th Street?

The land classification for Sudarsan Nagar Extension 8th 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 is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.