Guideline Value for Surakapuram Melandai Street

Surakapuram Melandai Street guideline value

The current guideline value of Surakapuram Melandai Street is Rs 105 per sq.ft, effective from 1 July 2024. This street is located in Vayaloor village, under the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Surakapuram Melandai Street has changed

Since the 2012 revision, the guideline value for Surakapuram Melandai Street has seen various changes. In the 2012 revision, the value was Rs 100 per sq.ft. This figure decreased to Rs 67 per sq.ft in the 2017 revision, representing a decline of 33%. However, the value rebounded to Rs 100 per sq.ft in the 2023 revision, and then increased to Rs 105 per sq.ft in the 2024 revision, marking a 5% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 5% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vayaloor

In Vayaloor, there are 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 105 to Rs 155 per sq.ft, with a median value of Rs 105 per sq.ft. Surakapuram Melandai Street's 2024 figure aligns with this median.

• Surakapuram irular Colony: Rs 105 per sq.ft (2024)
• Surakapuram Nadu Street: Rs 105 per sq.ft (2024)
• Surakapuram Arunthathipuram North Street: Rs 105 per sq.ft (2024)
• Surakapuram Perumal Kovil Street: Rs 105 per sq.ft (2024)
• Stalin Nagar: Rs 155 per sq.ft (2024)
• Utchimedu: Rs 105 per sq.ft (2024)

Stamp duty and registration fee for property in Surakapuram Melandai Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,05,000. The stamp duty at 7% would be Rs 7,350, and the registration fee at 2% would be Rs 2,100, making the total Rs 9,450. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Surakapuram Melandai Street?

The Sub Registrar Office covering Surakapuram Melandai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vayaloor. It determines the minimum value at which the property can be registered, impacting the stamp duty and registration fees payable.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Surakapuram Melandai Street?

The current guideline value of Surakapuram Melandai Street is Rs 105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 105 per sq.ft in 2024.

What is the land classification for Surakapuram Melandai Street?

Surakapuram Melandai Street is classified as Residential Class III Type - I.

Which Sub Registrar Office handles registrations for this street?

The Sunguvarchattram Sub Registrar Office handles registrations for Surakapuram Melandai Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vayaloor?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,450.