Guideline Value for Sudarsan Nagar

Sudarsan Nagar guideline value

The current guideline value of Sudarsan Nagar 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 has changed

The guideline value for Sudarsan Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase of 64% from the previous 2017 revision, which was Rs 2,010 per sq.ft. The 2012 revision recorded a value of Rs 3,000 per sq.ft, marking a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the years 2002, 2003, 2007, and 2023 in the register 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, with a median value of Rs 2,400 per sq.ft. The guideline value of Sudarsan Nagar is above this median.

• Sudarsan Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sudarsan Nagar

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 fees together to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudarsan Nagar?

The Sub Registrar Office covering Sudarsan Nagar 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 determines the minimum value at which the property can be registered and is used to calculate the stamp duty and registration fees payable at the time of registration.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures that the transaction reflects the official value set by the government, which is essential for tax purposes and property records.

Frequently asked questions

What is the current guideline value of Sudarsan Nagar?

The current guideline value of Sudarsan Nagar 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, and then to Rs 3,300 per sq.ft in 2024. This represents an overall increase of 10% from 2012 to 2024.

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

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

Which Sub Registrar Office covers Sudarsan Nagar?

The Selaiyur Sub Registrar Office covers Sudarsan Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Sudarsan Nagar?

Sudarsan Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.