Guideline Value for Suriya Garden

Suriya Garden guideline value

The current guideline value of Suriya Garden, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Suriya Garden has changed

Looking at the historical revisions, the guideline value for Suriya Garden was Rs 1,200 per sq.ft in both the 2012 and 2023 revisions. There was no figure available for the years 2002, 2003, 2007, and 2017. The latest revision in 2024 shows an increase of 8% from the previous year's value of Rs 1,200 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. This reflects the changes in the property valuation over the years, with the most recent adjustment taking place in 2024.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, making Suriya Garden's current value below the median.

• Suriya Garden (Ward-02): 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

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, resulting in a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Suriya Garden?

The Suriya Garden 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 during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements set by the registration authorities.

Frequently asked questions

What is the current guideline value of Suriya Garden?

The current guideline value of Suriya Garden is Rs 1,300 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Suriya Garden has remained at Rs 1,200 per sq.ft from 2012 to 2023, and it increased to Rs 1,300 per sq.ft in the 2024 revision, marking an overall increase of 8% from 2012 to 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram with a guideline value of Rs 1,300 per sq.ft include Survey No.1326/2B, Survey No.405/1A1, 405/1B, and Survey No.508/2. Additionally, Survey No.502 and Survey No.503/1 have a higher guideline value of Rs 3,300 per sq.ft.

What fees are associated with buying property in Suriya Garden?

When buying property in Suriya Garden, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Where can I find the Sub Registrar Office for Suriya Garden?

The Sub Registrar Office covering Suriya Garden is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO through the provided link.