Guideline Value for Surgikal Colony

Surgikal Colony guideline value

The current guideline value of Surgikal Colony, located in Nandhambakkam village under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Surgikal Colony has changed

The guideline value for Surgikal Colony has seen significant changes over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. After that, the value rose sharply to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 144%. The revisions for the years 2002 and 2003 have no figures available for this street in the register.

Guideline values in Nandhambakkam

Nandhambakkam village has 76 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft as of 2024. The median value for these streets is Rs 3,900 per sq.ft, placing Surgikal Colony's 2024 figure above this median.

• Sundar Nagar Main: Rs 5,500 per sq.ft (2024)
• Sundar Nagar First Cross Street: Rs 5,500 per sq.ft (2024)
• Sundar Nagar first Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 7th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 6th Avenue: Rs 5,500 per sq.ft (2024)
• Sundar Nagar 5th Avenue: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Surgikal Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Surgikal Colony?

The Sub Registrar Office that covers Surgikal Colony 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nandhambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are applied fairly based on the property's assessed value.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess the costs involved in a property transaction.

Frequently asked questions

What is the current guideline value of Surgikal Colony?

The current guideline value of Surgikal Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 144% over the years.

What are the stamp duty and registration fees for property in Surgikal Colony?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 44,00,000, with stamp duty at Rs 3,08,000 and registration fees at Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Surgikal Colony?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. The higher of the guideline value or the sale price is used to determine the applicable duties.