Guideline Value for Sudha Nagar

Sudha Nagar guideline value

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

How the guideline value of Sudha Nagar has changed

The guideline value for Sudha Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 4,000 per sq.ft. This figure remained until 2017 when it dropped to Rs 2,680 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value significantly increased by 49%, reaching Rs 4,000 per sq.ft. The most recent revision in 2024 saw another increase to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. 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 for these streets is Rs 1,650 per sq.ft, placing Sudha Nagar's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudha Nagar?

The Sub Registrar Office that covers Sudha Nagar 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sudha Nagar?

The current guideline value of Sudha Nagar 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 back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Sudha Nagar?

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

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

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

Which Sub Registrar Office covers Sudha Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Sudha Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.