Guideline Value for SUNRISE AVENUE

Sunrise Avenue guideline value

The current guideline value of Sunrise Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Special Type - V.

How the guideline value of Sunrise Avenue has changed

The guideline value for Sunrise Avenue has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 4,000 per sq.ft, which increased by 10% to Rs 4,400 per sq.ft in the 2024 revision.

This change reflects a consistent increase in the guideline value for this street, moving from Rs 4,000 in 2023 to Rs 4,400 in 2024. The current value is notably above the median of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values range from Rs 1,000 to Rs 8,800 per sq.ft as per the 2024 revision. Sunrise Avenue's current guideline value of Rs 4,400 per sq.ft is above the median value of Rs 2,200 per sq.ft. Below are the guideline values for other streets in Sholinganallur - 1:

• Sunshine Avenue: Rs 4,400 per sq.ft (2024)
• S.V. Ekambaram Street: Rs 2,800 per sq.ft (2024)
• S.V.Natarajan Nagar: Rs 3,900 per sq.ft (2024)
• S.V.NATARJA NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)
• S.V.Sankar Salai (Near Canal): Rs 1,700 per sq.ft (2024)
• Sugam Garden Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sunrise Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sunrise Avenue?

The Sub Registrar Office that covers Sunrise Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial figure used in the registration process of property transactions in Sholinganallur - 1. This value helps determine the stamp duty and registration fees that buyers must pay when purchasing a property.

When you buy or sell property, the guideline value serves as a benchmark to assess the transaction. It ensures that the registration fees are calculated fairly based on the official valuation rather than the sale price alone.

Frequently asked questions

What is the current guideline value of Sunrise Avenue?

The current guideline value of Sunrise Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 4,000 per sq.ft to Rs 4,400 per sq.ft, marking a 10% increase.

What is the land classification for Sunrise Avenue?

Sunrise Avenue is classified as Residential Special Type - V under the Neelankarai SRO.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Sunrise Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.