Guideline Value for Sudukattu Street

Sudukattu Street guideline value

The current guideline value of Sudukattu Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sudukattu Street has changed

The guideline value of Sudukattu Street has undergone several revisions over the years. In 2002, the value was Rs 283 per sq.ft, which increased to Rs 307 per sq.ft in 2003, reflecting a change of +8%. The value saw a significant rise to Rs 700 per sq.ft in 2007, marking an increase of +128%. In 2012, it was recorded at Rs 2,500 per sq.ft, which was a substantial increase of +257% from 2007. However, the value decreased to Rs 1,675 per sq.ft in 2017, showing a decline of -33% from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest 2024 revision increased it to Rs 2,700 per sq.ft, representing an increase of +8%.

Overall, from 2002 to 2024, the guideline value has increased by +854%. The register has no figures for the years not mentioned above.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the current value of Sudukattu Street.

• Subramaniya Thottam: Rs 2,700 per sq.ft (2024)
• St. Mary's Road: Rs 2,700 per sq.ft (2024)
• State Bank Colony: Rs 2,700 per sq.ft (2024)
• Telephone Colony: Rs 2,700 per sq.ft (2024)
• Thanigachalam Mudali Street: Rs 2,700 per sq.ft (2024)
• Srinivasa Raghavan Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sudukattu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee, charged at 2%, would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudukattu Street?

The Sub Registrar Office that covers Sudukattu Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Sembiam. It serves as the basis for calculating the stamp duty and registration fees that are applicable during the sale or purchase of property.

When you register a property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This ensures that the fees are reflective of the property's value as per the official guidelines.

Frequently asked questions

What is the current guideline value of Sudukattu Street?

The current guideline value of Sudukattu Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 283 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, showing an overall increase of +854% over the years.

What are the stamp duty and registration fees for property in Sudukattu Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000. The stamp duty at 7% is Rs 1,89,000, and the registration fee at 2% is Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Sudukattu Street?

The Sembiam Sub Registrar Office covers Sudukattu Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Sudukattu Street?

Sudukattu Street is classified as Residential Class I Type - I, indicating its designation for residential use within the area.