Guideline Value for Sudha Nagar

Sudha Nagar guideline value

The current guideline value of Sudha Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Sudha Nagar has changed

The guideline value for Sudha Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 162 per sq.ft. This value increased dramatically to Rs 1,500 per sq.ft in 2007, marking a rise of 826%. The value then fluctuated, reaching Rs 3,500 per sq.ft in 2012, which was a decrease of 33%. By 2017, the guideline value rose to Rs 2,345 per sq.ft, and then it jumped to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 3,850 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figure for Sudha Nagar for the year 2003. Overall, from 2002 to 2024, the guideline value has increased by 2,277%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Sudha Nagar is below this median.

• Subramaniyar Koil Street: Rs 3,850 per sq.ft (2024)
• Subramaniyam Colony: Rs 4,400 per sq.ft (2024)
• Subramani Street: Rs 3,850 per sq.ft (2024)
• Subramani Koil Street: Rs 3,850 per sq.ft (2024)
• Subha Reddy Lane: Rs 3,850 per sq.ft (2024)
• Subba Reddy Lane, MKN Road: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudha Nagar?

The Sub Registrar Office that covers Sudha Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sudha Nagar?

The current guideline value of Sudha Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 162 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, a total increase of 2,277% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 3,46,500.

Which office handles property registrations in Sudha Nagar?

The Velacheri Sub Registrar Office is responsible for property registrations in Sudha Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value for streets in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, while Sudha Nagar's guideline value is below this median at Rs 3,850 per sq.ft.