Guideline Value for SURYA NAGAR

Surya Nagar guideline value

The current guideline value of Surya Nagar, located in Minjur village under the Ponneri SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Surya Nagar has changed

The guideline value for Surya Nagar has seen several revisions over the years. The earliest recorded figure was Rs 268 per sq.ft in the 2017 revision. This increased to Rs 400 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 440 per sq.ft, which is an increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Surya Nagar's 2024 figure below this median.

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

Stamp duty and registration fee for property in Surya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It's 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 Surya Nagar?

The Surya Nagar area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Minjur. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. This ensures that all parties involved are informed and can plan their finances accordingly.

Frequently asked questions

What is the current guideline value of Surya Nagar?

The current guideline value of Surya Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for Surya Nagar?

Surya Nagar falls under the Residential Class III Type - I land classification, indicating its designated use for residential purposes.

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 the registration of properties in the Surya Nagar area.

How is stamp duty calculated in Surya Nagar?

Stamp duty in Surya Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at a rate of 7%.