Guideline Value for Sudhanandha Bharathi 2nd Street

Sudhanandha Bharathi 2nd Street guideline value

The current guideline value of Sudhanandha Bharathi 2nd Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sudhanandha Bharathi 2nd Street has changed

Over the years, the guideline value of Sudhanandha Bharathi 2nd Street has seen several revisions. The register shows that the 2012 revision set the value at Rs 500 per sq.ft, which was then revised to Rs 335 per sq.ft in 2017. This was a decrease of 33%. The 2023 revision increased the value to Rs 500 per sq.ft, and the current 2024 revision reflects a further increase to Rs 550 per sq.ft, marking a 10% rise from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 440 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Sudhanandha Bharathi 2nd Street's value below this median.

• Sudhanandha Bharathi 1st Street: Rs 550 per sq.ft (2024)
• Sudhanandha Bharathi 3rd Street: Rs 550 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Vengambakkam Main Road: Rs 3,300 per sq.ft (2024)
• Shibin City: Rs 1,100 per sq.ft (2024)
• Vinayagar Koil First Cross Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sudhanandha Bharathi 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudhanandha Bharathi 2nd Street?

The Sub Registrar Office that covers Sudhanandha Bharathi 2nd 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 Kaspapuram

The guideline value is a critical factor in the registration process when buying or selling property in Kaspapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established values in the area.

Frequently asked questions

What is the current guideline value of Sudhanandha Bharathi 2nd Street?

The current guideline value of Sudhanandha Bharathi 2nd Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Sudhanandha Bharathi 2nd Street?

The land classification for Sudhanandha Bharathi 2nd Street is Residential Class I Type - III.

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

The Sub Registrar Office for Sudhanandha Bharathi 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kaspapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 5,50,000, the stamp duty would be calculated at 7% of that amount.