Guideline Value for Susila Nagar 1st Street

Susila Nagar 1st Street guideline value

The current guideline value of Susila Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Susila Nagar 1st Street has changed

The guideline value for Susila Nagar 1st Street has seen revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,500 per sq.ft. The most recent revision in 2024 increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

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

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current value of Susila Nagar 1st Street.

• Susila Nagar 1st Main Road: 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 Street

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 to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Susila Nagar 1st Street?

The Sub Registrar Office that covers Susila Nagar 1st Street 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 Kodungaiyur

The guideline value is an important factor in property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value will be referenced during the registration process. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, representing an overall increase of 8%.

What are the stamp duty and registration fees for properties in Susila Nagar 1st Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 2,43,000.

Which office handles property registrations in Kodungaiyur?

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

How is the guideline value used during property transactions?

The guideline value is used as a benchmark for registration and is essential for calculating stamp duty and registration fees. It ensures that the government receives appropriate revenue from property transactions.