Guideline Value for Suresh Nagar

Suresh Nagar guideline value

The current guideline value of Suresh Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Suresh Nagar has changed

The guideline value for Suresh Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 323 per sq.ft, which increased to Rs 358 per sq.ft in 2003. Following this, the value rose significantly to Rs 750 per sq.ft in 2007, and then to Rs 3,200 per sq.ft in 2012. However, it decreased to Rs 2,144 per sq.ft in 2017 before climbing to Rs 3,200 per sq.ft again in 2023. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft.

Looking at the changes, from 2002 to 2024, there has been an overall increase of 990%. The most notable changes include a 327% increase from 2007 to 2012 and a 49% increase from 2017 to 2023. The 2023 to 2024 revision reflects a 10% increase.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, placing Suresh Nagar's 2024 figure below that median.

• Suresh Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Suresh Nagar Cross Road: Rs 3,520 per sq.ft (2024)
• Suresh Nagar, Krishna Street: Rs 3,520 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. It is important to note that 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 information.

Which Sub Registrar Office covers Suresh Nagar?

The Sub Registrar Office that covers Suresh Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Porur. When buying or selling property, the guideline value is used as a benchmark for calculating stamp duty and registration fees. This ensures that the fees are based on a standardized value set by the government.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to determine the applicable duties and fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Suresh Nagar?

The current guideline value of Suresh Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased from Rs 323 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 990%.

What is the land classification for Suresh Nagar?

The land classification for Suresh Nagar is Residential Special Type - II.

Where can I find the SRO for Suresh Nagar?

The Sub Registrar Office for Suresh Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for property in Suresh Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 3,16,800.