Guideline Value for Sundara Varadhan Nagar (Ward-10)

Sundara Varadhan Nagar (Ward-10) guideline value

The current guideline value of Sundara Varadhan Nagar (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sundara Varadhan Nagar (Ward-10) has changed

Looking at the revisions, the guideline value for Sundara Varadhan Nagar (Ward-10) was Rs 804 per sq.ft in 2017, which increased to Rs 1,200 per sq.ft in 2012. The 2023 revision set the value at Rs 1,200 per sq.ft, and the current 2024 revision shows an increase to Rs 1,300 per sq.ft. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value saw a significant increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which means that the 2024 guideline value for Sundara Varadhan Nagar (Ward-10) is below this median.

• Sundaravaradan Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sundara Vinayagar Koil Street: Rs 1,300 per sq.ft (2024)
• Sundaramoorthy Salai (Ward-23): Rs 1,300 per sq.ft (2024)
• Sundaram Nagar (Ward-09): Rs 1,300 per sq.ft (2024)
• Sundarababu St. (Ward-11): Rs 1,300 per sq.ft (2024)
• Sumathi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundara Varadhan Nagar (Ward-10)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundara Varadhan Nagar (Ward-10)?

The Sub Registrar Office that covers Sundara Varadhan Nagar (Ward-10) 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 Madhavaram

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value for which the property can be registered. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sundara Varadhan Nagar (Ward-10)?

The current guideline value of Sundara Varadhan Nagar (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and now to Rs 1,300 per sq.ft in 2024. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification of Sundara Varadhan Nagar?

Sundara Varadhan Nagar is classified as Residential Class III Type - I. This classification indicates the type of development permissible in the area.

What are the registration fees for property transactions in Sundara Varadhan Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Sundara Varadhan Nagar?

The Madhavaram Sub Registrar Office handles registrations for Sundara Varadhan Nagar (Ward-10). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.