Guideline Value for Suganthammal Nagar

Suganthammal Nagar guideline value

The current guideline value of Suganthammal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Suganthammal Nagar has changed

The guideline value for Suganthammal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the latest revision in 2024 has increased the value to Rs 2,200 per sq.ft, marking a significant increase of 64% from 2017 to 2024. Overall, from the 2012 revision to the 2024 revision, there has been a slight increase of 10%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street. The 2012 to 2017 revision saw a decrease of 33%, indicating a fluctuation in the guideline values over the years.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Suganthammal Nagar's 2024 value below that median.

• Sundarar Street: Rs 2,700 per sq.ft (2024)
• Sundarar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Subramani Street: Rs 2,200 per sq.ft (2024)
• Subramaniam Cross Street: Rs 2,200 per sq.ft (2024)
• Susila Nagar 1st Main Road: Rs 2,700 per sq.ft (2024)
• Susila Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Suganthammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Suganthammal Nagar?

The Suganthammal Nagar area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications of the sale. It is crucial for buyers to understand the guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Suganthammal Nagar?

The current guideline value of Suganthammal Nagar is Rs 2,200 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 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification of Suganthammal Nagar?

Suganthammal Nagar is classified as Residential Class II Type - I.

Where is the Madhavaram Sub Registrar Office located?

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

How is stamp duty calculated in Suganthammal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.