Guideline Value for Sudarsan Nagar Gnanadha Nagar Link Road

Sudarsan Nagar Gnanadha Nagar Link Road guideline value

The current guideline value of Sudarsan Nagar Gnanadha Nagar Link Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road 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 Gnanadha Nagar Link Road has changed

Over the years, the guideline value for Sudarsan Nagar Gnanadha Nagar Link Road has seen several revisions. 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 current 2024 revision has raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From the 2017 to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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 in this area is Rs 2,400 per sq.ft, making the current value of Sudarsan Nagar Gnanadha Nagar Link Road above the median.

• Sudarsan Nagar Extension 9th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Madampakkam Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 8th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 7th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar-Sannathi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar Gnanadha Nagar Link Road

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 cost for these fees 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.

You can also use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Sudarsan Nagar Gnanadha Nagar Link Road?

The Sub Registrar Office that covers Sudarsan Nagar Gnanadha Nagar Link Road 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 when registering 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 applicable stamp duty and registration fees during the transaction.

When a property is bought or sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should 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 for Sudarsan Nagar Gnanadha Nagar Link Road?

The current guideline value for Sudarsan Nagar Gnanadha Nagar Link Road 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, marking a 10% increase. In the previous revisions, it decreased from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, before rising again in 2023.

What is the land classification for this area?

The land classification for Sudarsan Nagar Gnanadha Nagar Link Road is Residential Special Type - III, indicating its designation for residential use.

Where is the Selaiyur Sub Registrar Office 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.

How is stamp duty calculated on properties in Madambakkam?

Stamp duty in Madambakkam is calculated at 7% of the guideline value or the sale price, whichever is higher. In addition, a registration fee of 2% is applicable, ensuring that all property transactions are officially recorded.