Guideline Value for Surendira Nagar (Main)

Surendira Nagar (Main) guideline value

The current guideline value of Surendira Nagar (Main) is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Surendira Nagar (Main) has changed

The guideline value for Surendira Nagar (Main) has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was then reduced to Rs 3,015 per sq.ft in the 2017 revision. Following this, the 2023 revision raised the value to Rs 4,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 5,000 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, followed by an 11% increase from 2023 to 2024. 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 Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Surendira Nagar (Main) above this median.

• Surendira Nagar First Street: Rs 5,000 per sq.ft (2024)
• Surendra Nagar 12th street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar Extension: Rs 5,000 per sq.ft (2024)
• Surendra Nagar 6th street I, II, III, IV Cross street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 9th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 8th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar (Main)

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, leading to a total of Rs 4,50,000. Please 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 information.

Which Sub Registrar Office covers Surendira Nagar (Main)?

The Sub Registrar Office that covers Surendira Nagar (Main) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps to establish a fair price for taxation purposes. Buyers and sellers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Surendira Nagar (Main)?

The current guideline value of Surendira Nagar (Main) 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 is the land classification for Surendira Nagar (Main)?

Surendira Nagar (Main) falls under the Residential Class I Type - I land classification.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the total fees would amount to Rs 4,50,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.