Guideline Value for Surendira Nagar 1st Street

Surendira Nagar 1st Street guideline value

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

How the guideline value of Surendira Nagar 1st Street has changed

The guideline value for Surendira Nagar 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 317 per sq.ft. It increased to Rs 362 per sq.ft in 2003, followed by a significant rise to Rs 1,250 per sq.ft in 2007. The value then jumped to Rs 4,500 per sq.ft in 2012, but saw a decrease to Rs 3,015 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,500 per sq.ft, and the latest revision in 2024 set the value at Rs 5,000 per sq.ft.

Notable changes between these revisions include a 14% increase from 2002 to 2003, a 245% increase from 2003 to 2007, a 260% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,477%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, making the 2024 figure for Surendira Nagar 1st Street above that median.

• Surendira Nagar 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 12th Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 11th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 3rd Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar 1st 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, totaling Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Surendira Nagar 1st Street?

The Sub Registrar Office that covers Surendira Nagar 1st Street 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 plays a crucial role during the registration of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements during the transaction process.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Surendira Nagar 1st Street?

The current guideline value of Surendira Nagar 1st 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 significantly over the years, from Rs 317 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, representing an overall increase of 1,477%.

What is the land classification for Surendira Nagar 1st Street?

The land classification for Surendira Nagar 1st Street is Residential Class I Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles property registrations for Surendira Nagar 1st Street?

The Alandur Sub Registrar Office handles property registrations for Surendira Nagar 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.