Guideline Value for Surendira Nagar 2nd Cross Street

Surendira Nagar 2nd Cross Street guideline value

The current guideline value of Surendira Nagar 2nd Cross 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 2nd Cross Street has changed

Over the years, the guideline value of Surendira Nagar 2nd Cross Street has seen significant changes. The earliest recorded revision in the register is from 2002, where the guideline value was Rs 317 per sq.ft. This figure saw an increase to Rs 362 per sq.ft in 2003, followed by a substantial rise to Rs 1,250 per sq.ft in 2007. The value then jumped dramatically to Rs 4,500 per sq.ft in 2012, before decreasing to Rs 3,015 per sq.ft in 2017. The value increased again to Rs 4,500 per sq.ft in 2023, and finally reached Rs 5,000 per sq.ft in the 2024 revision.

The changes between these revisions are noteworthy. From 2002 to 2003, there was a 14% increase. The guideline value then surged by 245% from 2003 to 2007. The period from 2007 to 2012 saw a 260% increase, but this was followed by a 33% decrease from 2012 to 2017. The value rebounded with a 49% increase from 2017 to 2023, culminating in an 11% rise 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 for these streets is Rs 3,900 per sq.ft, placing Surendira Nagar 2nd Cross Street above this median.

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

Stamp duty and registration fee for property in Surendira Nagar 2nd Cross Street

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, bringing the total charges to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Surendira Nagar 2nd Cross Street?

The Sub Registrar Office that covers Surendira Nagar 2nd Cross 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 when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees that are applicable during the transaction. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Surendira Nagar 2nd Cross Street?

The current guideline value of Surendira Nagar 2nd Cross 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 increased significantly from Rs 317 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 1,477% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 3,50,000, and the registration fee is Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office covers Surendira Nagar 2nd Cross Street?

The Alandur Sub Registrar Office covers Surendira Nagar 2nd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Surendira Nagar 2nd Cross Street?

The land classification for Surendira Nagar 2nd Cross Street is Residential Class I Type - I.