Guideline Value for Sunrise Avenue Salai

Sunrise Avenue Salai guideline value

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

How the guideline value of Sunrise Avenue Salai has changed

In the 2012 revision, the guideline value was Rs 4,500 per sq.ft. This value decreased to Rs 3,015 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value significantly increased by 49%, reaching Rs 4,500 per sq.ft. The most recent revision in 2024 saw another increase to Rs 5,000 per sq.ft, reflecting an 11% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, 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 Rs 5,000 per sq.ft for Sunrise Avenue Salai is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the 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 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 Salai?

The Sub Registrar Office that covers Sunrise Avenue Salai 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 the registration of property transactions in Neelankarai. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately in the official records maintained by the registration department.

Frequently asked questions

What is the current guideline value of Sunrise Avenue Salai?

The current guideline value of Sunrise Avenue Salai 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 seen several changes: it was Rs 4,500 per sq.ft in 2012, decreased to Rs 3,015 per sq.ft in 2017, increased to Rs 4,500 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in 2024.

What is the classification of land on Sunrise Avenue Salai?

The land classification for Sunrise Avenue Salai is Residential Special Type - IV, indicating its suitability for residential development.

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 stamp duty calculated for property in Sunrise Avenue Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,50,000.