Guideline Value for Sugandhammal 2nd Street

Sugandhammal 2nd Street guideline value

The current guideline value of Sugandhammal 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Sugandhammal 2nd Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and then rose again to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Sugandhammal 2nd Street above this median.

• Sugandhammal 1st 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 2nd 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sugandhammal 2nd Street?

The Sugandhammal 2nd Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Selavoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is important to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sugandhammal 2nd Street?

The current guideline value of Sugandhammal 2nd 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 seen several changes, from Rs 3,000 per sq.ft in 2012, decreasing to Rs 2,010 per sq.ft in 2017, and then increasing to Rs 3,000 per sq.ft in 2023 and Rs 3,300 per sq.ft in 2024.

What is the land classification of Sugandhammal 2nd Street?

Sugandhammal 2nd Street is classified as Residential Special Type - I under the Madhavaram SRO.

Where can I find the Sub Registrar Office for Sugandhammal 2nd Street?

The Madhavaram Sub Registrar Office, which covers Sugandhammal 2nd Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the 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, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.