Guideline Value for Sudarsan Nagar Madampakkam Main Road

Sudarsan Nagar Madampakkam Main Road guideline value

The current guideline value of Sudarsan Nagar Madampakkam Main 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 Madampakkam Main Road has changed

The guideline value for Sudarsan Nagar Madampakkam Main Road 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 guideline value increased significantly to Rs 3,000 per sq.ft in the 2023 revision and reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with 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 Madampakkam Main Road above this median.

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

Stamp duty and registration fee for property in Sudarsan Nagar Madampakkam Main 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 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudarsan Nagar Madampakkam Main Road?

The Sub Registrar Office covering Sudarsan Nagar Madampakkam Main 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 during property registration in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the government’s records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, making it essential for both buyers and sellers to be aware of the current rates.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar Madampakkam Main Road?

The current guideline value of Sudarsan Nagar Madampakkam Main 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 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Madambakkam with similar guideline values?

Other streets in Madambakkam with a guideline value of Rs 3,300 per sq.ft include Sudarsan Nagar Gnanadha Nagar Link Road, Sudarsan Nagar Main Road, Sudarsan Nagar Extension 9th Street, Sudarsan Nagar-Sannathi Street, Sudarsan Nagar Extension 8th Street, and Sudarsan Nagar Extension 7th Street.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Sudarsan Nagar Madampakkam Main Road?

The Sub Registrar Office for Sudarsan Nagar Madampakkam Main Road is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information about your SRO online.