Guideline Value for Surendira nagar 7th Street

Surendira nagar 7th Street guideline value

The current guideline value of Surendira nagar 7th 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 7th Street has changed

The guideline value for Surendira nagar 7th Street has seen 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. The following revisions were significant, with the value jumping to Rs 1,250 per sq.ft in 2007, then to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 5,000 per sq.ft. The changes from 2017 to 2023 saw an increase of 49%, while the jump from 2023 to 2024 was 11%.

There are no figures available for the years not mentioned in the register for this street. The overall change from 2002 to 2024 reflects a substantial increase of 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 value is Rs 3,900 per sq.ft, placing Surendira nagar 7th Street's 2024 figure above this median.

• Surendira Nagar 6th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 8th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 5th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 9th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar 4th Street: Rs 5,000 per sq.ft (2024)
• Surendira Nagar Extension: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Surendira nagar 7th 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Surendira nagar 7th Street?

The Sub Registrar Office that covers Surendira nagar 7th 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 critical factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration.

Frequently asked questions

What is the current guideline value of Surendira nagar 7th Street?

The current guideline value of Surendira nagar 7th 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 1,477%.

What are the stamp duty and registration fees for property in Surendira nagar 7th Street?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000, and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which Sub Registrar Office covers Surendira nagar 7th Street?

The Alandur Sub Registrar Office covers Surendira nagar 7th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Surendira nagar 7th Street?

Surendira nagar 7th Street is classified as Residential Class I Type - I, indicating its designation for residential use.