Guideline Value for Surendira Nagar 3rd Street

Surendira Nagar 3rd Street guideline value

The current guideline value of Surendira Nagar 3rd 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 3rd Street has changed

The guideline value for Surendira Nagar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 317 per sq.ft, which increased to Rs 362 per sq.ft in 2003. Following that, the value rose significantly to Rs 1,250 per sq.ft in 2007, and then to Rs 4,500 per sq.ft in 2012. However, it dropped to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023 before reaching the current figure of Rs 5,000 per sq.ft in 2024.

Examining the changes between revisions, the guideline value increased by 14% from 2002 to 2003, by 245% from 2003 to 2007, and by 260% from 2007 to 2012. It decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent revision from 2023 to 2024 shows 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. The median value for these streets is Rs 3,900 per sq.ft, placing Surendira Nagar 3rd Street's 2024 figure above that median.

• Surendira Nagar 3rd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 6th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar 3rd 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 and the sale price.

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

Which Sub Registrar Office covers Surendira Nagar 3rd Street?

The Sub Registrar Office that covers Surendira Nagar 3rd 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 in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the registration fees and stamp duty that need to be paid. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps in ensuring that the property transaction is compliant with local regulations. It is advisable for buyers and sellers to check the latest guideline values before proceeding with any transaction to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Surendira Nagar 3rd 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 stamp duty rate for properties in Surendira Nagar 3rd Street?

The stamp duty rate for properties in Surendira Nagar 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

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.

What is the median guideline value for streets in Adambakkam?

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