Guideline Value for Sudarsan Nagar Extension

Sudarsan Nagar Extension guideline value

The current guideline value of Sudarsan Nagar Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Selaiyur SRO, classified as Residential Special Type - III.

How the guideline value of Sudarsan Nagar Extension has changed

The guideline value for Sudarsan Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, when comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

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. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Sudarsan Nagar Extension's current value above this median.

• Sudarsan Nagar Ext 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 10th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 11th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Ext 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 12th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar Extension

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, 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?

The Sub Registrar Office that covers Sudarsan Nagar Extension 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 during the registration of property in Madambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standard valuation set by the government.

When buying or selling property, the guideline value helps to determine the official value of the transaction, which is important for legal and financial purposes. It ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar Extension?

The current guideline value of Sudarsan Nagar Extension 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, reflecting a 10% increase. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of Sudarsan Nagar Extension?

Sudarsan Nagar Extension is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Sudarsan Nagar Extension?

The stamp duty is calculated at 7% and the registration fee at 2% of the guideline value. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Sudarsan Nagar Extension located?

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