Guideline Value for Suraj Avenue Extension

Suraj Avenue Extension guideline value

The current guideline value of Suraj Avenue Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Suraj Avenue Extension has changed

The guideline value for Suraj Avenue Extension has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Suraj Avenue Extension.

• Suraj Avenue: Rs 2,200 per sq.ft (2024)
• Swamy Nagar: Rs 3,630 per sq.ft (2024)
• Sundaradas Street: Rs 1,210 per sq.ft (2024)
• Tambaram - Manimangalam Road: Rs 2,200 per sq.ft (2024)
• Tambaram Mudichur Co-Operative Mahanagar: Rs 3,650 per sq.ft (2024)
• Tambaram to Mudichur Road: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Suraj Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Suraj Avenue Extension?

The Sub Registrar Office that covers Suraj Avenue Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Suraj Avenue Extension?

The current guideline value of Suraj Avenue Extension is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for Suraj Avenue Extension?

Suraj Avenue Extension is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Padappai Sub Registrar Office covers Suraj Avenue Extension and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Suraj Avenue Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.