Guideline Value for Sugandhammal 1st Street

Sugandhammal 1st Street guideline value

The current guideline value of Sugandhammal 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Sugandhammal 1st Street has changed

The guideline value for Sugandhammal 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft. There are no figures available in the register for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a minimal increase of 1%. However, from 2017 to 2023, the guideline value saw a substantial rise of 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 65% from 2012 to 2024.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Sugandhammal 1st Street's 2024 figure is above this median.

• Sugandhammal 2nd Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal 3rd Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal Nagar: Rs 3,300 per sq.ft (2024)
• Sugandhammal Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Subam Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sugandhammal 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sugandhammal 1st Street?

The Sub Registrar Office that covers Sugandhammal 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential to be aware of the guideline value in your area as it directly impacts the overall costs associated with property transactions. Buyers and sellers should ensure that they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sugandhammal 1st Street?

The current guideline value of Sugandhammal 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

What is the land classification of Sugandhammal 1st Street?

Sugandhammal 1st Street is classified as Residential Special Type - I according to the land classification in the area.

Where can I find the Sub Registrar Office for Sugandhammal 1st Street?

The Sub Registrar Office for Sugandhammal 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Selavoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.