Guideline Value for Surendira Nagar First Street

Surendira Nagar First Street guideline value

The current guideline value of Surendira Nagar First 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 First Street has changed

The guideline value for Surendira Nagar First Street has seen several revisions over the years. In 2012, the guideline value was Rs 4,500 per sq.ft, which decreased to Rs 3,015 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 4,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 5,000 per sq.ft, marking an 11% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 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 guideline value in this village is Rs 3,900 per sq.ft, making the 2024 figure for Surendira Nagar First Street above that median.

• Surendira Nagar Extension: Rs 5,000 per sq.ft (2024)
• Surendira Nagar (Main): Rs 5,000 per sq.ft (2024)
• Surendira Nagar 9th Street: Rs 5,000 per sq.ft (2024)
• Surendra Nagar 12th street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 8th Street: Rs 5,000 per sq.ft (2024)
• Surendra Nagar 6th street I, II, III, IV Cross street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar First 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 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.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Surendira Nagar First Street?

The Sub Registrar Office that covers Surendira Nagar First 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 determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Surendira Nagar First Street?

The current guideline value of Surendira Nagar First 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 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the land classification for Surendira Nagar First Street?

Surendira Nagar First Street is classified as Residential Class I Type - I.

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 Extension, Surendira Nagar (Main), Surendira Nagar 9th Street, Surendra Nagar 12th street, Surendira Nagar 8th Street, and Surendra Nagar 6th street I, II, III, IV Cross street.

How is stamp duty calculated for properties in Surendira Nagar First Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property with a guideline value of 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.