Guideline Value for Sugandhammal Nagar

Sugandhammal Nagar guideline value

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

How the guideline value of Sugandhammal Nagar has changed

The guideline value for Sugandhammal Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available 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 Nagar's 2024 figure is above this median.

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

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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sugandhammal Nagar?

The Sub Registrar Office that covers Sugandhammal Nagar 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 crucial factor in the property registration process in Selavoyal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid to the government.

It is essential for both buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sugandhammal Nagar?

The current guideline value of Sugandhammal Nagar 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 is the land classification for Sugandhammal Nagar?

The land classification for Sugandhammal Nagar is Residential Special Type - I.

Which office handles property registrations in Sugandhammal Nagar?

The Madhavaram Sub Registrar Office handles property registrations in Sugandhammal Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sugandhammal Nagar?

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