Guideline Value for Sugandhammal Nagar 5th Street

Sugandhammal Nagar 5th Street guideline value

The current guideline value of Sugandhammal Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sugandhammal Nagar 5th Street has changed

The guideline value for Sugandhammal Nagar 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, showing a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has risen by 10%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that Sugandhammal Nagar 5th Street's 2024 figure is above the median.

• Sugandhammal Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal Nagar: Rs 3,300 per sq.ft (2024)
• Sugandhammal 3rd Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal 2nd Street: Rs 3,300 per sq.ft (2024)
• Sugandhammal 1st 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 Nagar 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to 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, making the total Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sugandhammal Nagar 5th Street?

The Sub Registrar Office covering Sugandhammal Nagar 5th Street is 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 a crucial factor when registering property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Sugandhammal Nagar 5th Street?

The current guideline value of Sugandhammal Nagar 5th 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 increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Selavoyal with the same guideline value?

Other streets in Selavoyal with a guideline value of Rs 3,300 per sq.ft include Sugandhammal Nagar 4th Street, Sugandhammal Nagar, Sugandhammal 3rd Street, Sugandhammal 2nd Street, and Sugandhammal 1st Street.

What is the registration fee for property in Sugandhammal Nagar 5th Street?

The registration fee for property in Sugandhammal Nagar 5th Street is 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for Sugandhammal Nagar 5th Street?

The Sub Registrar Office for Sugandhammal Nagar 5th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.