Guideline Value for Sudsen Gems Park

Sudsen Gems Park guideline value

The current guideline value of Sudsen Gems Park, located in 1. Nolambur village under the Villivakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of Sudsen Gems Park has changed

The guideline value for Sudsen Gems Park has undergone several revisions over the years. In the 2017 revision, the guideline value was Rs 4,355 per sq.ft. This increased to Rs 6,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is equal to the guideline value of Sudsen Gems Park.

• S.R.R. Nagar: Rs 7,100 per sq.ft (2024)
• Sriram Nagar Main Road: Rs 7,100 per sq.ft (2024)
• Thattya Nagar: Rs 7,100 per sq.ft (2024)
• Srigajalakshmi Nagar: Rs 3,700 per sq.ft (2024)
• S & P Garden: Rs 7,100 per sq.ft (2024)
• Tribuvan Flats: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sudsen Gems Park

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total fees Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sudsen Gems Park?

The Sub Registrar Office that covers Sudsen Gems Park is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role when buying or selling property in 1. Nolambur. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies 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 duties and 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 Sudsen Gems Park?

The current guideline value of Sudsen Gems Park is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 4,355 per sq.ft to Rs 7,100 per sq.ft in 2024, reflecting a total increase of 63% over the years.

What is the land classification of Sudsen Gems Park?

Sudsen Gems Park is classified under Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.