Guideline Value for Suruthi Nagar

Suruthi Nagar guideline value

The current guideline value of Suruthi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Suruthi Nagar has changed

In the 2017 revision, the guideline value was Rs 536 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking an increase of 87%. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 105%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, which means Suruthi Nagar's current value is slightly below this median.

• Sunkeshwar Parshwanath Nagar: Rs 1,100 per sq.ft (2024)
• Thalamuthu Natarajan Street: Rs 1,650 per sq.ft (2024)
• Thamizhan Nagar: Rs 1,102 per sq.ft (2024)
• Subash Chandra Bose Street: Rs 1,100 per sq.ft (2024)
• S.T.V. Nagar: Rs 1,100 per sq.ft (2024)
• St. Joseph Nagar: Rs 1,102 per sq.ft (2024)

Stamp duty and registration fee for property in Suruthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Suruthi Nagar?

The Sub Registrar Office that covers Suruthi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

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

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for calculating the applicable duties and fees. This ensures that the government receives the correct amount based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Suruthi Nagar?

The current guideline value of Suruthi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 536 per sq.ft to Rs 1,100 per sq.ft in 2024, representing a total increase of 105% over this period.

What is the median guideline value for streets in Puzhal?

The median guideline value for streets in Puzhal under the Redhills SRO is Rs 1,102 per sq.ft, which is slightly higher than Suruthi Nagar's current value.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total fees would amount to Rs 99,000.

Which office handles property registrations for Suruthi Nagar?

The Redhills Sub Registrar Office handles property registrations for Suruthi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.