Guideline Value for Sunrise Avenue 7th Cross Street

Sunrise Avenue 7th Cross Street guideline value

The current guideline value of Sunrise Avenue 7th 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 7th Cross Street has changed

The guideline value for Sunrise Avenue 7th Cross Street has undergone several revisions over the years. In 2012, the guideline value was Rs 4,500 per sq.ft, which decreased to Rs 3,015 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,500 per sq.ft in 2023, and then rose again to the current figure of Rs 5,000 per sq.ft in 2024. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, followed by an 11% rise from 2023 to 2024. 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. Sunrise Avenue 7th Cross Street's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Sunrise Avenue 7th 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, bringing the total charges to Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sunrise Avenue 7th Cross Street?

The Sub Registrar Office that covers Sunrise Avenue 7th 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 further assistance.

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

When buying or selling property in Neelankarai, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are conducted fairly and transparently.

The guideline value is determined by the local authorities and is subject to periodic revisions. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Sunrise Avenue 7th Cross Street?

The current guideline value of Sunrise Avenue 7th 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 increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What are the other streets in Neelankarai with the same guideline value?

Other streets in Neelankarai with the same guideline value of Rs 5,000 per sq.ft in 2024 include Sunrise Avenue 6th Cross Street, Sunrise Avenue Salai, Sunrise Avenue 5th Cross Street, Sunrise Avenue 4th Cross Street, Sunrise Avenue 3rd Cross Street, and Sunrise Avenue 2nd Cross Street.

What is the stamp duty rate for properties in Neelankarai?

The stamp duty rate for properties in Neelankarai is 7% of the guideline value or the sale price, whichever is higher.

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.