Guideline Value for Susila Nagar 1st Main Road

Susila Nagar 1st Main Road guideline value

The current guideline value of Susila Nagar 1st Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Susila Nagar 1st Main Road has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year. The overall change from the 2012 revision to the 2024 revision is also an increase of 8%.

The register has no figure for the years 2002, 2003, 2007, and 2017 for this street. Therefore, the only revisions available for reference are from 2012, 2023, and 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 streets under the Madhavaram SRO, with 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, which is equal to the 2024 figure for Susila Nagar 1st Main Road.

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

Stamp duty and registration fee for property in Susila Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. Note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Susila Nagar 1st Main Road?

The Sub Registrar Office that covers Susila Nagar 1st Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Susila Nagar 1st Main Road?

The current guideline value of Susila Nagar 1st Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Susila Nagar 1st Main Road?

The Madhavaram Sub Registrar Office handles property registrations for Susila Nagar 1st Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Susila Nagar 1st Main Road?

The land classification for Susila Nagar 1st Main Road is Residential Class I Type - I.