Guideline Value for SURAKKAI SWAMI STREET

Surakkai Swami Street guideline value

The current guideline value of Surakkai Swami Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Surakkai Swami Street has changed

In the 2017 revision, the guideline value for Surakkai Swami Street was Rs 335 per sq.ft. This figure increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 550 per sq.ft, which is a 10% increase from the previous year. The register has no figures for the revisions in 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This consistent rise reflects changes in the valuation of properties in the area.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, making the 2024 figure for Surakkai Swami Street equal to this median.

• Surya Nagar: Rs 440 per sq.ft (2024)
• Surya Nagar Extension: Rs 440 per sq.ft (2024)
• Sri Venkateshwara Avenue: Rs 440 per sq.ft (2024)
• Sri Thiruvudaiamman Nagar: Rs 550 per sq.ft (2024)
• Theradi Street: Rs 1,320 per sq.ft (2024)
• Thiru K.R. Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Surakkai Swami Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost together to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Surakkai Swami Street?

The Sub Registrar Office that covers Surakkai Swami Street is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Minjur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of a property.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is registered at a value that reflects the property's worth according to the local government's standards.

Frequently asked questions

What is the current guideline value of Surakkai Swami Street?

The current guideline value of Surakkai Swami Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents a 64% increase overall from 2017 to 2024.

What is the land classification for Surakkai Swami Street?

Surakkai Swami Street is classified under Residential Class II Type - I land classification. This classification affects the guideline value and property usage.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles property registrations for Surakkai Swami Street and surrounding areas.

What are the stamp duty and registration fees for properties in Surakkai Swami Street?

The stamp duty for properties in Surakkai Swami Street is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 5,50,000, the total stamp duty and registration fees would amount to Rs 49,500.