Guideline Value for Surikulum

Surikulum guideline value

The current guideline value of Surikulum, located in Pammal village under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Surikulum has changed

The guideline value for Surikulum has seen significant changes over the years. In 2002, the value was Rs 115 per sq.ft, which increased to Rs 130 per sq.ft in 2003, marking a 13% rise. The value further increased to Rs 260 per sq.ft in 2007, representing a 100% increase from the previous revision. By 2017, the guideline value rose dramatically to Rs 1,072 per sq.ft, reflecting a 312% increase from 2007. The 2023 revision set the value at Rs 1,600 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 has established the guideline value at Rs 1,760 per sq.ft, which is a 10% increase from the previous year. Notably, there is no figure available for the year 2012 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 1,430%. Each revision reflects the changing landscape and value of properties in the area.

Guideline values in Pammal

Pammal village contains 926 streets under the Pammal SRO, with a guideline value range from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Surikulum's 2024 figure below this median.

• Suryamman Koil Street: Rs 1,760 per sq.ft (2024)
• Swaminathan Nagar (All Streets): Rs 1,870 per sq.ft (2024)
• Swami Vivekanadar Street: Rs 1,760 per sq.ft (2024)
• Sundarvadivelu Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Sundaram Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• T.Durairaj Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Surikulum

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees together Rs 1,58,400. 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 Surikulum?

The Sub Registrar Office that covers Surikulum is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value is a critical factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Surikulum?

The current guideline value of Surikulum is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 115 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 1,430% over this period.

What is the land classification for Surikulum?

Surikulum falls under the Residential Class III Type - II land classification, which is typical for residential areas in the region.

How do I calculate stamp duty and registration fees for a property in Surikulum?

To calculate the stamp duty and registration fees, you need to determine the guideline value of the property. For example, a 1,000 sq.ft plot at Rs 1,760 per sq.ft would have a total guideline value of Rs 17,60,000, resulting in stamp duty and registration fees totaling Rs 1,58,400.

Where is the Sub Registrar Office for Surikulum located?

The Sub Registrar Office for Surikulum is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.