Guideline Value for Surendira Nagar 2nd Street

Surendira Nagar 2nd Street guideline value

The current guideline value of Surendira Nagar 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Surendira Nagar 2nd Street has changed

The guideline value for Surendira Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 317 per sq.ft. This figure increased significantly to Rs 362 per sq.ft in 2003, marking a 14% rise. The next revision in 2007 saw a substantial increase to Rs 1,250 per sq.ft, which is a 245% change. Following this, in 2012, the value changed to Rs 4,500 per sq.ft, reflecting a decrease of 33% from the previous revision.

In 2017, the guideline value rose again to Rs 3,015 per sq.ft, which was a 49% increase. The most recent revisions include Rs 4,500 per sq.ft in 2023, followed by the current value of Rs 5,000 per sq.ft in 2024, an increase of 11%. 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, with a median value of Rs 3,900 per sq.ft. Surendira Nagar 2nd Street's current guideline value is above this median.

• Surendira Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 3rd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 4th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar 2nd 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, bringing the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Surendira Nagar 2nd Street?

The Sub Registrar Office that covers Surendira Nagar 2nd 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 information.

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 stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable fees, ensuring that the government receives the correct amount based on the property's value.

Frequently asked questions

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

The current guideline value of Surendira Nagar 2nd 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 from Rs 317 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1,477% over this period.

What is the classification of Surendira Nagar 2nd Street?

Surendira Nagar 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a 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 for these fees.

Where can I find the Sub Registrar Office for Surendira Nagar 2nd Street?

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