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Guideline Value

Corporate

Guideline Value for SURIYA NAGAR 2ND CROSS STREET

₹2750/sq.ft.

The guideline value for Suriya Nagar 2nd Cross Street in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Suriya Nagar 2nd Cross Street

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Suriya Nagar 2nd Cross Street guideline value

The current guideline value of Suriya Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Suriya Nagar 2nd Cross Street has changed

Over the years, the guideline value of Suriya Nagar 2nd Cross Street has undergone several revisions. In 2012, the guideline value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007. Therefore, the changes noted are only between the years where figures are available, specifically from 2012 to 2024, which shows an overall increase of 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, and Suriya Nagar 2nd Cross Street's current value is above this median.

Stamp duty and registration fee for property in Suriya Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. It is important to note that the 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 Suriya Nagar 2nd Cross Street?

The Suriya Nagar 2nd Cross Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Medavakkam. 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 used to calculate the applicable duties, ensuring that the transaction is recorded at a fair value as per the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Suriya Nagar 2nd Cross Street?

The current guideline value of Suriya Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then up to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Suriya Nagar 2nd Cross Street?

The land classification for Suriya Nagar 2nd Cross Street is Commercial Class I Type - III.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.

Where can I find the Sub Registrar Office for Suriya Nagar 2nd Cross Street?

The Sub Registrar Office for Suriya Nagar 2nd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.