Guideline Value for Suresh Nagar

Suresh Nagar guideline value

The current guideline value of Suresh Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Suresh Nagar has changed

The guideline value for Suresh Nagar has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 450 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 167%. However, the value decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, followed by the latest revision to Rs 1,300 per sq.ft in 2024, an increase of 8%.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 189%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Suresh Nagar is below this median.

• Sundar Nagar Rajeswari Nagar Extn: Rs 1,300 per sq.ft (2024)
• Sundar Nagar: Rs 1,300 per sq.ft (2024)
• Sundareswarar Koil Street: Rs 2,200 per sq.ft (2024)
• Syed Vallal Yusuf Nagar: Rs 850 per sq.ft (2024)
• Sundaram Smart City Phase I: Rs 3,300 per sq.ft (2024)
• Sundaram Colony Andal Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Suresh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Suresh Nagar?

The Suresh Nagar area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties in the transaction are aware of the legal and financial implications of the sale based on the established guideline values.

Frequently asked questions

What is the current guideline value of Suresh Nagar?

The current guideline value of Suresh Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, which is an 8% increase.

What is the land classification for Suresh Nagar?

Suresh Nagar falls under the Residential Class III Type - II land classification.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office for Suresh Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.