Guideline Value for Sudarsan Nagar-Sannathi Street

Sudarsan Nagar-Sannathi Street guideline value

The current guideline value of Sudarsan Nagar-Sannathi 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-Sannathi Street has changed

Over the years, the guideline value for Sudarsan Nagar-Sannathi Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the value to Rs 3,300 per sq.ft, marking a 10% rise from the 2023 figure.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. This means that the most recent figures reflect the substantial changes that have occurred since the last recorded value in 2017.

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, indicating that Sudarsan Nagar-Sannathi Street's current value is above this median.

• Sudarsan Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Madampakkam Main Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Gnanadha Nagar Link Road: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar Extension 9th 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-Sannathi 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 fees together to Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudarsan Nagar-Sannathi Street?

The Sub Registrar Office that covers Sudarsan Nagar-Sannathi 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 plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring transparency in property dealings.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the guideline value or the actual sale price, whichever is higher, thereby ensuring that the transaction is recorded accurately in the official registry.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar-Sannathi Street?

The current guideline value of Sudarsan Nagar-Sannathi 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, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for Sudarsan Nagar-Sannathi Street?

The land classification for Sudarsan Nagar-Sannathi Street is Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Sudarsan Nagar-Sannathi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam?

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