Guideline Value for Sudha Nagar Ist Street

Sudha Nagar Ist Street guideline value

The current guideline value of Sudha Nagar Ist Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Special Type - I.

How the guideline value of Sudha Nagar Ist Street has changed

The guideline value for Sudha Nagar Ist Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and currently stands at Rs 4,400 per sq.ft as per the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but the value saw a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Sudha Nagar Ist Street's current value above this median.

• Sudha Nagar: Rs 4,400 per sq.ft (2024)
• Sudhananda Bharathi Street: Rs 1,100 per sq.ft (2024)
• Sudha Avenue Ist Street: Rs 1,650 per sq.ft (2024)
• Sudha Avenue 2nd Street: Rs 1,650 per sq.ft (2024)
• Sudha Avenue: Rs 1,650 per sq.ft (2024)
• Sundaram Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sudha Nagar Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sudha Nagar Ist Street?

The Sub Registrar Office that covers Sudha Nagar Ist Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Chitlapakkam

The guideline value is a crucial factor in the registration process of property transactions in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating these fees. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sudha Nagar Ist Street?

The current guideline value of Sudha Nagar Ist Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in 2024.

What is the land classification for Sudha Nagar Ist Street?

Sudha Nagar Ist Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Sudha Nagar Ist Street?

For a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Sudha Nagar Ist Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Sudha Nagar Ist Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.