Guideline Value for Suriya Garden 1st Cross Street

Suriya Garden 1st Cross Street guideline value

The current guideline value of Suriya Garden 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Suriya Garden 1st Cross Street has changed

The guideline value for Suriya Garden 1st Cross Street has seen several revisions over the years. The current rate of Rs 3,300 per sq.ft was established in the 2024 revision, which reflects a 10% increase from the previous year's rate of Rs 3,000 per sq.ft. Looking back further, the 2017 revision set the value at Rs 2,010 per sq.ft, marking a significant 49% increase when compared to the 2023 figure. The 2012 revision had a guideline value of Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 rate.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Suriya Garden 1st Cross Street's 2024 figure above this median.

• Suriya Garden 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Suriya Garden Main Road: Rs 3,300 per sq.ft (2024)
• Suresh Avenue: Rs 2,800 per sq.ft (2024)
• Sur.Vi.Vi.Nagar: Rs 2,800 per sq.ft (2024)
• Sunrise Avenue Salai: Rs 5,000 per sq.ft (2024)
• Sunrise Avenue 7th Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Suriya Garden 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. 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 Suriya Garden 1st Cross Street?

The Suriya Garden 1st Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is checked against the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that all transactions are conducted in compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Suriya Garden 1st Cross Street?

The current guideline value of Suriya Garden 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Suriya Garden 1st Cross Street?

Suriya Garden 1st Cross Street is classified as Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Suriya Garden 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.