Guideline Value for Sunrise Avenue 2nd Cross Street

Sunrise Avenue 2nd Cross Street guideline value

The current guideline value of Sunrise Avenue 2nd Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Sunrise Avenue 2nd Cross Street has changed

The guideline value for Sunrise Avenue 2nd Cross Street has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 4,500 per sq.ft. In 2017, the value decreased to Rs 3,015 per sq.ft, marking a decline of 33%. The 2023 revision set the value back to Rs 4,500 per sq.ft, and the most recent 2024 revision increased it to Rs 5,000 per sq.ft, reflecting an increase of 11% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Sunrise Avenue 2nd Cross Street is above this median.

• Sunrise Avenue: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 3rd Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 4th Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 5th Cross Street: Rs 5,000 per sq.ft (2024)
• Sunny Vale: Rs 6,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sunrise Avenue 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Sunrise Avenue 2nd Cross Street?

The Sub Registrar Office that covers Sunrise Avenue 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property in the area.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that both buyers and sellers adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Sunrise Avenue 2nd Cross Street?

The current guideline value of Sunrise Avenue 2nd Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then back to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the land classification of Sunrise Avenue 2nd Cross Street?

Sunrise Avenue 2nd Cross Street is classified as Residential Special Type - IV.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Sunrise Avenue 2nd Cross Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would amount to Rs 3,50,000.