Guideline Value for Sundaramoorthy Salai (Ward-23)

Sundaramoorthy Salai (Ward-23) guideline value

The current guideline value of Sundaramoorthy Salai (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sundaramoorthy Salai (Ward-23) has changed

The guideline value for Sundaramoorthy Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. The most recent 2024 revision increased the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Sundaramoorthy Salai's 2024 figure is below this median.

• 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)
• Sundaravaradan Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sundara Varadhan Nagar (Ward-10): Rs 1,300 per sq.ft (2024)
• Sundara Vinayagar Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaramoorthy Salai (Ward-23)

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. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sundaramoorthy Salai (Ward-23)?

The Sub Registrar Office that covers Sundaramoorthy Salai 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 critical factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Sundaramoorthy Salai (Ward-23)?

The current guideline value of Sundaramoorthy Salai (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024.

What were the previous guideline values for Sundaramoorthy Salai?

The previous guideline values for Sundaramoorthy Salai were Rs 1,200 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision is the first time it has increased to Rs 1,300 per sq.ft.

How does the guideline value compare to other streets in Madhavaram?

The guideline value of Rs 1,300 per sq.ft for Sundaramoorthy Salai is the same as several other streets in Madhavaram, including Sundaram Nagar, Sundarababu St., and others, but is below the median value of Rs 1,600 per sq.ft for the area.

What are the stamp duty and registration fees based on the guideline value?

Stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 13,00,000, the total stamp duty and registration fees would amount to Rs 1,17,000.

Where can I find the Sub Registrar Office for Sundaramoorthy Salai?

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