Guideline Value for SURAT BHAVAN GARDEN

Surat Bhavan Garden guideline value

The current guideline value of Surat Bhavan Garden is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class V Type - II.

How the guideline value of Surat Bhavan Garden has changed

The guideline value for Surat Bhavan Garden has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 650 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 208%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, which was a substantial increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, showing a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Surat Bhavan Garden's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Surat Bhavan Street: Rs 2,200 per sq.ft (2024)
• Sunnambu Kalvai Cheri: Rs 2,200 per sq.ft (2024)
• Sundarlal Nahata Avenue: Rs 7,700 per sq.ft (2024)
• Sundaram Pillai Street: Rs 7,100 per sq.ft (2024)
• Sundaram Pillai Lane: Rs 7,100 per sq.ft (2024)
• Sylvan Lodge Colony: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Surat Bhavan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Surat Bhavan Garden?

The Surat Bhavan Garden falls under the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value at the time of sale.

Frequently asked questions

What is the current guideline value of Surat Bhavan Garden?

The current guideline value of Surat Bhavan Garden is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 238% over the years.

What is the land classification for Surat Bhavan Garden?

The land classification for Surat Bhavan Garden is Residential Class V Type - II.

Where can I find the Purasaivakkam Sub Registrar Office?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Surat Bhavan Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.