Guideline Value for Suresh Nagar 4th Street

Suresh Nagar 4th Street guideline value

The current guideline value of Suresh Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Suresh Nagar 4th Street has changed

The guideline value for Suresh Nagar 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 387 per sq.ft. This increased to Rs 421 per sq.ft in 2003, marking a 9% rise. The value then rose to Rs 500 per sq.ft in 2007, which was a significant increase of 19%. Following this, the guideline value surged to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 600% increase. However, in 2017, it decreased to Rs 2,345 per sq.ft, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,850 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 895%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current value of Suresh Nagar 4th Street.

• Suresh Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Suresh Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Suresh Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Suresh Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Tahore Street: Rs 3,850 per sq.ft (2024)
• Subramaniya Samy Nagar 9th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Suresh Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Suresh Nagar 4th Street?

The Sub Registrar Office that covers Suresh Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and in accordance with government regulations.

When you register a property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Suresh Nagar 4th Street?

The current guideline value of Suresh Nagar 4th Street is Rs 3,850 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 387 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 895% over this period.

What are the stamp duty and registration fees for property in Suresh Nagar 4th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registration for Suresh Nagar 4th Street?

The Virugambakkam Sub Registrar Office handles property registration for Suresh Nagar 4th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Valasaravakkam?

The guideline value is determined based on various factors, including land classification and revisions made by the Registration Department. It serves as a reference for calculating stamp duty and registration fees during property transactions.