Guideline Value for Sundarababu St. (Ward-11)

Sundarababu St. (Ward-11) guideline value

The current guideline value of Sundarababu St. (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Sundarababu St. (Ward-11) has changed

The guideline value for Sundarababu St. has seen a revision from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an increase of 8%. Prior to this, the value remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023, indicating no change during that period. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The consistent value of Rs 1,200 per sq.ft from 2012 to 2023 reflects stability in the guideline value during that decade.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, placing Sundarababu St.'s 2024 figure below this median.

• Sumathi Nagar: Rs 1,300 per sq.ft (2024)
• Sundaram Nagar (Ward-09): Rs 1,300 per sq.ft (2024)
• Sundaramoorthy Salai (Ward-23): Rs 1,300 per sq.ft (2024)
• Sugannia Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Sundaravaradan Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sundara Varadhan Nagar (Ward-10): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundarababu St. (Ward-11)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundarababu St. (Ward-11)?

The Sub Registrar Office that covers Sundarababu St. (Ward-11) 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 Madhavaram

The guideline value plays a crucial role during the registration of property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted in compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sundarababu St.?

The current guideline value of Sundarababu St. (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. It remained unchanged at Rs 1,200 per sq.ft from 2012 to 2023.

What is the land classification for Sundarababu St.?

Sundarababu St. is classified as Residential Class III Type - I, indicating its use for residential purposes within the Madhavaram area.

Which office handles property registrations in Madhavaram?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 and a registration fee of Rs 26,000.