Guideline Value for SUSEELA NAGAR

Suseela Nagar guideline value

The current guideline value of Suseela Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,350 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Suseela Nagar has changed

Looking at the historical revisions, the guideline value for Suseela Nagar has seen several changes over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which remained unchanged until 2017 when it dropped to Rs 1,474 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,200 per sq.ft in 2023, and further rose to the current rate of Rs 2,350 per sq.ft in 2024, reflecting a 7% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the revisions from 2012 to 2024, the guideline value has seen a modest increase of 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Suseela Nagar's 2024 figure below that median.

• Suseela Avenue: Rs 3,300 per sq.ft (2024)
• S.V. Naidu Nagar: Rs 850 per sq.ft (2024)
• Thangam Nagar: Rs 3,200 per sq.ft (2024)
• Sudarasana Prasad Nagar: Rs 2,350 per sq.ft (2024)
• St.THOMAS NAGAR: Rs 2,700 per sq.ft (2024)
• Theshiv Rkj Elite: Rs 4,450 per sq.ft (2024)

Stamp duty and registration fee for property in Suseela Nagar

For a property in Suseela Nagar, the guideline value for a 1,000 sq.ft plot is Rs 23,50,000. The stamp duty is charged at 7%, amounting to Rs 1,64,500, while the registration fee is 2%, totaling Rs 47,000. Therefore, the total cost for these fees would be Rs 2,11,500. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Suseela Nagar?

The Sub Registrar Office that covers Suseela Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Vengaivasal, the guideline value plays a crucial role in the registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

Additionally, the guideline value influences the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to accurately calculate these costs during the property transfer process.

Frequently asked questions

What is the current guideline value of Suseela Nagar?

The current guideline value of Suseela Nagar is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,350 per sq.ft in 2024.

What is the land classification of Suseela Nagar?

Suseela Nagar is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Suseela Nagar?

Stamp duty for properties in Suseela Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For example, on a property valued at Rs 23,50,000, the stamp duty would be Rs 1,64,500.