Guideline Value for Surendira Nagar Extension

Surendira Nagar Extension guideline value

The current guideline value of Surendira Nagar Extension is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is part of Adambakkam village, under the jurisdiction of the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Surendira Nagar Extension has changed

Over the years, the guideline value for Surendira Nagar Extension has seen several revisions. The earliest recorded value in 2002 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 before climbing back to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 5,000 per sq.ft.

The changes between these revisions highlight significant fluctuations. From 2002 to 2024, the overall increase is 1,477%. The most notable change was from 2007 to 2012, where the value increased by 260%, while the period from 2012 to 2017 saw a decrease of 33%. The jump from 2023 to 2024 is an increase of 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, placing the guideline value of Surendira Nagar Extension above this median.

• Surendira Nagar 9th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar First Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 8th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar (Main): Rs 5,000 per sq.ft (2024)
• Surendira Nagar 7th Street: Rs 5,000 per sq.ft (2024)
• Surendra Nagar 12th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar Extension

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, resulting in a total of 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 use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Surendira Nagar Extension?

The Sub Registrar Office that covers Surendira Nagar Extension 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 further assistance.

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

The guideline value plays a crucial role in the registration process for property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is often used to calculate the applicable stamp duty and registration fees.

During the registration process, buyers and sellers must ensure that the sale price is equal to or higher than the guideline value. If the sale price is lower than the guideline value, the duty will still be calculated based on the guideline value, ensuring compliance with the registration regulations.

Frequently asked questions

What is the current guideline value of Surendira Nagar Extension?

The current guideline value of Surendira Nagar Extension 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, marking an overall increase of 1,477% over this period.

What is the land classification for Surendira Nagar Extension?

Surendira Nagar Extension is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Surendira Nagar Extension?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 50,00,000, the stamp duty at 7% would be Rs 3,50,000.