Guideline Value for SURENDRAPURAM (N)

Surendrapuram (N) guideline value

The current guideline value of Surendrapuram (N) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Surendrapuram (N) has changed

The guideline value for Surendrapuram (N) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then revised to Rs 402 per sq.ft in 2017. This marked a decrease of 33%. However, the value significantly increased to Rs 600 per sq.ft in the 2023 revision, followed by a further increase of 10% to the current value of Rs 660 per sq.ft in 2024.

Looking at the changes, from 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Surendrapuram (N)'s current figure below that median.

• Swamy Nagar (Kr): Rs 660 per sq.ft (2024)
• Sundarar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Thaiyumanavar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Thalamuthu Natarajan Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Subramania Siva Salai (Ward -8): Rs 1,320 per sq.ft (2024)
• Thaniskeyar (Per): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Surendrapuram (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Surendrapuram (N)?

The Sub Registrar Office that covers Surendrapuram (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps in establishing the minimum value at which the property can be registered. This ensures transparency in transactions and helps avoid undervaluation, which can lead to legal complications.

Frequently asked questions

What is the current guideline value of Surendrapuram (N)?

The current guideline value of Surendrapuram (N) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Surendrapuram (N)?

The land classification for Surendrapuram (N) is Residential Class I Type - III, indicating its designation for residential use.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Surendrapuram (N)?

The Chengleput Joint II Sub Registrar Office handles registrations for Surendrapuram (N), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.