Guideline Value for Suriya Narayana Chetty 3rd Lane

Suriya Narayana Chetty 3rd Lane guideline value

The current guideline value of Suriya Narayana Chetty 3rd Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Suriya Narayana Chetty 3rd Lane has changed

The guideline value for Suriya Narayana Chetty 3rd Lane has undergone several revisions over the years. The earliest recorded revision is from 2007, with a value of Rs 700 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 186%. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The value then saw a substantial increase of 49% to Rs 2,000 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 2,200 per sq.ft in 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Suriya Narayana Chetty 3rd Lane's 2024 figure is above this median.

• Suriya Narayana Chetty 2nd Lane: Rs 2,200 per sq.ft (2024)
• Suriya Narayana Chetty Road (Beyond Kasimedu Police Station): Rs 4,900 per sq.ft (2024)
• Suriya Narayana Chetty Road (Royapuram Police Station to Kasimedu Police Station): Rs 4,900 per sq.ft (2024)
• Suryanarayana 1st lane: Rs 2,200 per sq.ft (2024)
• Suryanarayana 2nd lane: Rs 2,200 per sq.ft (2024)
• Suryanarayana 3rd lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Suriya Narayana Chetty 3rd Lane

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Suriya Narayana Chetty 3rd Lane?

The Sub Registrar Office that covers Suriya Narayana Chetty 3rd Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is important to be aware that the guideline value may differ from the actual sale price. However, the duty is levied on the higher of the two values, which can impact the overall cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Suriya Narayana Chetty 3rd Lane?

The current guideline value of Suriya Narayana Chetty 3rd Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 214% over the years.

What are the stamp duty and registration fees for properties in this lane?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Suriya Narayana Chetty 3rd Lane?

The Royapuram Sub Registrar Office is responsible for Suriya Narayana Chetty 3rd Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Suriya Narayana Chetty 3rd Lane?

The land classification for Suriya Narayana Chetty 3rd Lane is Residential Class I Type - I, indicating its suitability for residential purposes.