Guideline Value for Sudharsan Street

Sudharsan Street guideline value

The current guideline value of Sudharsan Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sudharsan Street has changed

The guideline value for Sudharsan Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 329 per sq.ft. This increased to Rs 362 per sq.ft in 2003, marking a 10% rise. The value further rose significantly to Rs 1,200 per sq.ft in 2007, which is a 231% increase. However, there was a decrease in the 2012 revision, where the value was recorded at Rs 3,500 per sq.ft, showing a decline of 33% from the previous revision.

In the following revisions, the guideline value increased again, reaching Rs 2,345 per sq.ft in 2017, which was a 49% rise from 2012. The most recent revision in 2023 saw the value rise to Rs 3,500 per sq.ft. Finally, as of 1 July 2024, the current guideline value stands at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, indicating that Sudharsan Street's 2024 figure is below this median.

• Sundararami Salai: Rs 7,100 per sq.ft (2024)
• Suriyaganthi Colony Flats: Rs 7,100 per sq.ft (2024)
• Thenthirupathi Nagar: Rs 4,900 per sq.ft (2024)
• Therkku Cross Street: Rs 3,300 per sq.ft (2024)
• Srinivasa Nagar Sakthi Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Kamaraj Ist Cross and Extension: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sudharsan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudharsan Street?

The Sub Registrar Office that covers Sudharsan Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is conducted at a fair price, reflecting the current market conditions as determined by the government. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sudharsan Street?

The current guideline value of Sudharsan Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 329 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, marking an overall increase of 1055% over the years.

What is the land classification for Sudharsan Street?

Sudharsan Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

What other streets are in Mugappair with their guideline values?

Other streets in Mugappair under the Konnur SRO have varying guideline values, with the median being Rs 7,100 per sq.ft. Sudharsan Street's value is below this median.

Where can I find the Sub Registrar Office for Sudharsan Street?

The Konnur Sub Registrar Office covers Sudharsan Street and is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.