Guideline Value for Sunrise Avenue 5th Cross Street

Sunrise Avenue 5th Cross Street guideline value

The current guideline value of Sunrise Avenue 5th 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 5th Cross Street has changed

The guideline value for Sunrise Avenue 5th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in 2017. In 2023, the value increased to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,000 per sq.ft, marking an increase of 11% from the previous year.

Between the 2012 and 2017 revisions, there was a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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. The median value is Rs 2,200 per sq.ft, placing Sunrise Avenue 5th Cross Street above this median.

• Sunrise Avenue 4th Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 6th Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 3rd Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 7th Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue Salai: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sunrise Avenue 5th 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 amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sunrise Avenue 5th Cross Street?

The Sub Registrar Office covering Sunrise Avenue 5th 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 in property transactions in Neelankarai. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. The guideline value helps ensure that the transaction is registered at a value that reflects the current market conditions.

When registering a property, buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher. This process is essential for legal recognition of the property transfer and for ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sunrise Avenue 5th Cross Street?

The current guideline value of Sunrise Avenue 5th 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 are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles registrations for Sunrise Avenue 5th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Sunrise Avenue 5th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, with Sunrise Avenue 5th Cross Street's current value being above this median.