Guideline Value for Susila Nagar Main Road

Susila Nagar Main Road guideline value

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

How the guideline value of Susila Nagar 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.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which matches the guideline value of Susila Nagar Main Road.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, totaling Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Susila Nagar Main Road?

The Sub Registrar Office that covers Susila Nagar Main Road 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 Kodungaiyur

The guideline value is a crucial factor in property transactions in Kodungaiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering a property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

From 2012 to 2023, the guideline value remained at Rs 2,500 per sq.ft. In 2024, it increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

What is the land classification of Susila Nagar Main Road?

Susila Nagar Main Road is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties here?

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 in this area?

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