Guideline Value for SUSILA STREET

Susila Street guideline value

The current guideline value of Susila Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Susila Street has changed

In the 2012 revision, the guideline value was Rs 2,900 per sq.ft. This figure decreased to Rs 1,943 per sq.ft in the 2017 revision, marking a decline of 33%. Subsequently, the value increased significantly to Rs 2,900 per sq.ft in 2023, and then rose again to Rs 3,190 per sq.ft in the 2024 revision, reflecting an increase of 10% from the previous year. The register has no figure for Susila Street for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The jump from Rs 1,943 per sq.ft in 2017 to Rs 2,900 per sq.ft in 2023 represents a notable increase of 49%.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value is Rs 3,190 per sq.ft, which matches the guideline value of Susila Street.

• Subramani Street: Rs 3,190 per sq.ft (2024)
• Srinivasan Street: Rs 3,190 per sq.ft (2024)
• Vadanoobal Main Road (Mayana Salai): Rs 2,970 per sq.ft (2024)
• Vadanoobal Pillaiar Koil Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Road 1st Cross Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Road 2nd Cross Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Susila Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Susila Street?

The Sub Registrar Office that covers Susila Street is the Chennai South Joint II 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 information.

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

The guideline value is a crucial factor when registering property transactions in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs can significantly impact the overall expense of purchasing property in the area.

Frequently asked questions

What is the current guideline value of Susila Street?

The current guideline value of Susila Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then back to Rs 2,900 per sq.ft in 2023, and finally reaching Rs 3,190 per sq.ft in 2024.

What is the land classification of Susila Street?

Susila Street is classified as Residential Class V Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Susila Street?

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

How is the stamp duty calculated for property in Susila Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 31,90,000, the stamp duty would be Rs 2,23,300 at the rate of 7%.