Guideline Value for SUPPURAYAN NAGAR

Suppurayan Nagar guideline value

The current guideline value of Suppurayan Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village and falls under the Neelankarai SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Suppurayan Nagar has changed

The guideline value for Suppurayan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which was then decreased to Rs 3,350 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, and the latest revision in 2024 has further raised it to Rs 5,500 per sq.ft. The changes between these revisions are notable, with a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024. The overall change from 2012 to 2024 is an increase of 10%.

It is important to note that for the years 2002, 2003, and 2007, the register has no figure for this street. Therefore, the guideline values only reflect the revisions from 2012 onwards.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Suppurayan Nagar's current guideline value is above this median.

• SULAIMA NAGAR 2nd, 3rd STREET: Rs 1,100 per sq.ft (2024)
• Sulaima Nagar 1 St Street0: Rs 1,100 per sq.ft (2024)
• Sulaima Nagar 1 St Cross Street: Rs 1,100 per sq.ft (2024)
• Sulaima Nagar: Rs 1,100 per sq.ft (2024)
• Suburayan Nagar 6th Main Road: Rs 2,800 per sq.ft (2024)
• Suburayan Nagar 5th Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Suppurayan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges together Rs 4,95,000. 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 Suppurayan Nagar?

The Sub Registrar Office that covers Suppurayan Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Suppurayan Nagar?

The current guideline value of Suppurayan Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, a 10% increase. It was Rs 3,350 per sq.ft in 2017 and Rs 5,000 per sq.ft in 2012.

What is the land classification for Suppurayan Nagar?

Suppurayan Nagar is classified as Residential Special Type - III, which indicates the specific zoning and usage regulations for this area.

What are the stamp duty and registration fees for property in Suppurayan Nagar?

For a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Suppurayan Nagar?

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