Guideline Value for Road Street

Road Street guideline value

The current guideline value of Road Street in Suramanikuppam village is Rs 100 per sq.ft, effective from the 2024 revision. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Road Street has changed

Looking at the revisions, the guideline value for Road Street was Rs 100 per sq.ft in the 2024 revision, which is consistent with the previous year's 2023 figure of Rs 100 per sq.ft, indicating no change. The 2017 revision recorded a value of Rs 67 per sq.ft, showing a significant increase of 49% from 2017 to 2023. Prior to that, in the 2012 revision, the value was Rs 100 per sq.ft, which reflects a decrease of 33% to Rs 67 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 100 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The revisions show a clear trajectory of value changes, but the absence of data for these years means we cannot assess any trends during that period.

Guideline values in Suramanikuppam

In Suramanikuppam, there are four streets under the Sunguvarchattram SRO that carry a 2024 guideline value of Rs 100 per sq.ft, with this street's value aligning with the median of Rs 100 per sq.ft. The other streets in Suramanikuppam are as follows:

• Perumal Kovil Street: Rs 100 per sq.ft (2024)
• Thanthoniamman Kovil Street: Rs 100 per sq.ft (2024)
• Bajanai Kovil Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Road Street

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Road Street?

The Sub Registrar Office covering Road Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Suramanikuppam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to calculate the necessary fees, which are based on the property's value as recorded in the guideline value register. This process helps maintain a standardized approach to property transactions in the area.

Frequently asked questions

What is the current guideline value of Road Street?

The current guideline value of Road Street in Suramanikuppam is Rs 100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2012 to 2024, but there was a significant increase of 49% from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023.

What are the other streets in Suramanikuppam with the same guideline value?

Other streets in Suramanikuppam that share the same guideline value of Rs 100 per sq.ft include Perumal Kovil Street, Thanthoniamman Kovil Street, and Bajanai Kovil Street.

What is the stamp duty rate for properties in Road Street?

The stamp duty rate for properties in Road Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Road Street located?

The Sub Registrar Office for Road Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.