Guideline Value for Surendira nagar 1st Cross Street

Surendira nagar 1st Cross Street guideline value

The current guideline value of Surendira nagar 1st 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 nagar 1st Cross Street has changed

The guideline value for Surendira nagar 1st Cross Street has seen significant changes over the years. The earliest recorded value in 2002 was Rs 317 per sq.ft, which increased to Rs 362 per sq.ft in 2003. Following this, the value rose to Rs 1,250 per sq.ft in 2007, marking a substantial increase of 245%. In 2012, the value was recorded at Rs 4,500 per sq.ft, which was a 260% increase from the previous revision. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017, representing a decline of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current value of Rs 5,000 per sq.ft in 2024, which is an increase of 11%.

There are no figures available for the revisions in years not listed. Overall, from 2002 to 2024, the guideline value has increased by 1,477%.

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 Surendira nagar 1st Cross Street's 2024 value above that median.

• Surendira Nagar 12th Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 11th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 10th 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 nagar 1st Cross 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 is charged at 7%, which totals Rs 3,50,000, while the registration fee is 2%, amounting to Rs 1,00,000. Therefore, the total cost for duty and registration fees would be 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Surendira nagar 1st Cross Street?

The Sub Registrar Office that covers Surendira nagar 1st 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 an essential factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the transactions are recorded fairly and transparently.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Surendira nagar 1st Cross Street?

The current guideline value of Surendira nagar 1st 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 significantly from Rs 317 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1,477%.

What is the land classification of Surendira nagar 1st Cross Street?

Surendira nagar 1st Cross Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in this area?

The total stamp duty and registration fees for a 1,000 sq.ft plot at the current guideline value would amount to Rs 4,50,000.

Where is the Sub Registrar Office located for this street?

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