Guideline Value for Suriya Garden (Ward-02)

Suriya Garden (Ward-02) guideline value

The current guideline value of Suriya Garden (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Suriya Garden (Ward-02) has changed

The guideline value for Suriya Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Suriya Garden's 2024 guideline value is below this median.

• Suriya Garden: Rs 1,300 per sq.ft (2024)
• Survey No.1326/2B: Rs 1,300 per sq.ft (2024)
• Survey No.405/1A1, 405/1B: Rs 1,300 per sq.ft (2024)
• Survey No.502: Rs 3,300 per sq.ft (2024)
• Survey No.503/1: Rs 3,300 per sq.ft (2024)
• Survey No.508/2: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Suriya Garden (Ward-02)

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, making the total charges Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Suriya Garden (Ward-02)?

The Suriya Garden (Ward-02) area is covered by the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures transparency and standardization in property transactions. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Suriya Garden?

The current guideline value of Suriya Garden (Ward-02) 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 remained at Rs 1,200 per sq.ft from 2012 to 2023 and increased to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase from the previous year.

What is the land classification for Suriya Garden?

Suriya Garden is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property in Suriya Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.