Guideline Value for Surendira Nagar 8th Street

Surendira Nagar 8th Street guideline value

The current guideline value of Surendira Nagar 8th 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 8th Street has changed

The guideline value for Surendira Nagar 8th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 317 per sq.ft. This figure increased to Rs 362 per sq.ft in 2003, marking a 14% rise. The value then saw significant growth, reaching Rs 1,250 per sq.ft in 2007, an increase of 245%. In 2012, the value adjusted to Rs 4,500 per sq.ft, reflecting a decrease of 33% from the previous figure. The guideline value then rose to Rs 3,015 per sq.ft in 2017, a 49% increase. The most recent revision was in 2023, where it increased to Rs 4,500 per sq.ft, and the current value is Rs 5,000 per sq.ft from the 2024 revision, representing an 11% increase.

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 the 2024 figure for Surendira Nagar 8th Street above this median.

• Surendira nagar 7th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 9th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 6th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar Extension: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar First Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar 8th 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, together totaling Rs 4,50,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Surendira Nagar 8th Street?

The Sub Registrar Office that covers Surendira Nagar 8th 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 during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value for Surendira Nagar 8th Street?

The current guideline value for Surendira Nagar 8th 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 317 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1477% over the years.

What is the stamp duty rate for property in Surendira Nagar 8th Street?

The stamp duty rate for property in Surendira Nagar 8th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Surendira Nagar 8th Street?

The Sub Registrar Office for Surendira Nagar 8th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 5,000 per sq.ft include Surendira nagar 7th Street, Surendira Nagar 9th Street, Surendira Nagar 6th Street, Surendira Nagar Extension, Surendira Nagar 5th Street, and Surendira Nagar First Street.