Guideline Value for Sugandhammal 3rd Street

Sugandhammal 3rd Street guideline value

The current guideline value of Sugandhammal 3rd 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 is classified as Residential Special Type - I.

How the guideline value of Sugandhammal 3rd Street has changed

The guideline value for Sugandhammal 3rd Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a drop of 33%. However, the value saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, followed by a further rise to Rs 3,300 per sq.ft in the 2024 revision, which is an increase of 10% from the previous year.

Notably, the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 3rd Street's 2024 figure is above this median.

• Sugandhammal 2nd Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal Nagar: Rs 3,300 per sq.ft (2024)
• Sugandhammal 1st Street: 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 3rd 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 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sugandhammal 3rd Street?

The Sub Registrar Office that covers Sugandhammal 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a critical factor during property registration in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must consider this value to ensure compliance with legal requirements when transferring property ownership.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sugandhammal 3rd Street?

The current guideline value of Sugandhammal 3rd 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Sugandhammal 3rd Street?

Sugandhammal 3rd Street is classified as Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sugandhammal 3rd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the stamp duty would be Rs 2,31,000.