Guideline Value for Surendira Nagar 3rd Cross Street

Surendira Nagar 3rd Cross Street guideline value

The current guideline value of Surendira Nagar 3rd Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - I.

How the guideline value of Surendira Nagar 3rd Cross Street has changed

The guideline value for Surendira Nagar 3rd Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 317 per sq.ft. This increased to Rs 362 per sq.ft in 2003, marking a 14% rise. The value further increased significantly to Rs 1,250 per sq.ft in 2007, reflecting a 245% change. By 2012, the value was Rs 4,500 per sq.ft, which was a 260% increase from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33% from 2012. The value then rose to Rs 4,500 per sq.ft in 2023, a 49% increase. Finally, the current value is Rs 5,000 per sq.ft, which is an 11% increase from 2023.

There are no figures available for the revisions in years other than those listed. The overall increase in guideline value from 2002 to 2024 is 1,477%.

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 value for these streets is Rs 3,900 per sq.ft, making the guideline value of Surendira Nagar 3rd Cross Street above the 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 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 5th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar 3rd 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 to Rs 4,50,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Surendira Nagar 3rd Cross Street?

The Sub Registrar Office that covers Surendira Nagar 3rd Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit this link.

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 minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Surendira Nagar 3rd Cross Street?

The current guideline value of Surendira Nagar 3rd 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 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 the years.

What is the median guideline value in Adambakkam?

The median guideline value for streets in Adambakkam is Rs 3,900 per sq.ft, with Surendira Nagar 3rd Cross Street's value being above this median.

What are the stamp duty and registration fees for properties in Surendira Nagar 3rd Cross Street?

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 Sub Registrar Office covers the area of Surendira Nagar 3rd Cross Street?

The Alandur Sub Registrar Office covers Surendira Nagar 3rd Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.