Guideline Value for Surendira Nagar 5th Street

Surendira Nagar 5th Street guideline value

The current guideline value of Surendira Nagar 5th 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 5th Street has changed

The guideline value for Surendira Nagar 5th Street has undergone several revisions over the years. In 2002, the value was Rs 318 per sq.ft, which increased to Rs 363 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,250 per sq.ft in 2007, and by 2012, the value reached Rs 4,500 per sq.ft. However, it then decreased to Rs 3,015 per sq.ft in 2017. The value saw a notable increase to Rs 4,500 per sq.ft in 2023, and finally, it stands at Rs 5,000 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1,472%. The value rose by 14% from 2002 to 2003, followed by a 244% increase from 2003 to 2007. The value then surged by 260% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. The increase from 2017 to 2023 was 49%, and from 2023 to 2024, the rise is 11%.

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, making the 2024 figure for Surendira Nagar 5th Street above this median.

• Surendira Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 6th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 3rd Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 7th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 3rd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 8th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar 5th 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 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 details.

Which Sub Registrar Office covers Surendira Nagar 5th Street?

The Sub Registrar Office that covers Surendira Nagar 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Adambakkam

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial aspects of the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Surendira Nagar 5th Street?

The current guideline value of Surendira Nagar 5th 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 from Rs 318 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1,472% over the years.

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, while Surendira Nagar 5th Street's value is above this median.

What are the stamp duty and registration fees for property in Surendira Nagar 5th 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.

Where is the Sub Registrar Office for Surendira Nagar 5th Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.