Guideline Value for Suriyaganthi Colony Flats

Suriyaganthi Colony Flats guideline value

The current guideline value of Suriyaganthi Colony Flats is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Suriyaganthi Colony Flats has changed

The guideline value for Suriyaganthi Colony Flats has seen several revisions over the years. In 2002, the value was Rs 524 per sq.ft, which increased to Rs 576 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017. The value then increased to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024.

Between these revisions, there have been notable changes. From 2002 to 2024, the overall increase in the guideline value is 1,255%. The jump from 2017 to 2023 was 49%, while the increase from 2023 to 2024 was 9%. The largest increase occurred from 2007 to 2012, at 333%, while the value dropped by 33% from 2012 to 2017.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current value for Suriyaganthi Colony Flats.

• Sundararami Salai: Rs 7,100 per sq.ft (2024)
• Sudharsan Street: Rs 3,800 per sq.ft (2024)
• Thenthirupathi Nagar: Rs 4,900 per sq.ft (2024)
• Therkku Cross Street: Rs 3,300 per sq.ft (2024)
• Srinivasa Nagar Sakthi Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Kamaraj Ist Cross and Extension: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Suriyaganthi Colony Flats

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Suriyaganthi Colony Flats?

The Sub Registrar Office that covers Suriyaganthi Colony Flats is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mugappair. It serves as the base value for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registers.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Suriyaganthi Colony Flats?

The current guideline value of Suriyaganthi Colony Flats is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 524 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1,255%.

What is the land classification for Suriyaganthi Colony Flats?

Suriyaganthi Colony Flats is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Suriyaganthi Colony Flats?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.