Guideline Value for Surendira Nagar12th Cross Street

Surendira Nagar12th Cross Street guideline value

The current guideline value for Surendira Nagar12th Cross 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 Nagar12th Cross Street has changed

The guideline value for Surendira Nagar12th Cross Street has undergone 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, marking a 14% rise. The value saw a significant jump to Rs 1,250 per sq.ft in 2007, reflecting a 245% increase. By 2012, the value was Rs 4,500 per sq.ft, indicating a 260% increase from the previous revision. However, in 2017, it decreased to Rs 3,015 per sq.ft, showing a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, followed by the current rate of Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,477%. There are no figures in the register for revisions in years other than those mentioned.

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 Nagar12th Cross Street's current value above this median.

• Surendira Nagar 11th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 10th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira Nagar12th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the 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, totaling 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Surendira Nagar12th Cross Street?

The Sub Registrar Office that covers Surendira Nagar12th Cross 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 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 that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value as set by the registration authorities. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Surendira Nagar12th Cross Street?

The current guideline value for Surendira Nagar12th Cross 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 multiple times, starting from Rs 317 per sq.ft in 2002 to the current rate of Rs 5,000 per sq.ft in 2024, representing an overall increase of 1,477%.

What is the stamp duty for property in Surendira Nagar12th Cross Street?

The stamp duty for property in Surendira Nagar12th Cross Street is 7% of the guideline value. For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000.

Which office handles property registrations for Surendira Nagar12th Cross Street?

The Alandur Sub Registrar Office handles property registrations for Surendira Nagar12th Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties in Adambakkam?

The guideline value for properties in Adambakkam is determined by the Registration Department based on various factors, including land classification and location. It is revised periodically to reflect changes in the real estate market.