Guideline Value for Surya Avenue

Surya Avenue guideline value

The current guideline value of Surya Avenue in Zaminpallavaram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Surya Avenue has changed

The guideline value for Surya Avenue has undergone several revisions over the years. The earliest recorded value was Rs 184 per sq.ft in 2003, which saw a significant increase to Rs 600 per sq.ft in 2007. This was followed by a substantial rise to Rs 3,200 per sq.ft in 2012. However, the value decreased to Rs 2,144 per sq.ft in 2017. The most recent revision in 2024 set the guideline value at Rs 3,520 per sq.ft, marking a 64% increase from the 2017 figure.

In terms of percentage changes, the value increased by 433% from 2007 to 2012, and by 226% from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 1813%. The register has no figures for the years 2023 and 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Surya Avenue's 2024 figure is above this median.

• Swamymalai Nagar II M.Rd&R.K.Nagar: Rs 2,160 per sq.ft (2024)
• Swamy Nagar: Rs 3,520 per sq.ft (2024)
• Sunnambukalvai Street: Rs 3,300 per sq.ft (2024)
• Sunnambu Kalvai Kudiirruppu Kuttai (G.S.T. Road): Rs 3,300 per sq.ft (2024)
• Sunnambukalvai 2nd Street: Rs 3,300 per sq.ft (2024)
• Sundaresan Street (Colony): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Surya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total cost for stamp duty and registration fees Rs 3,16,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Surya Avenue?

The Sub Registrar Office that covers Surya Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate applicable stamp duties and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Surya Avenue?

The current guideline value of Surya Avenue is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 184 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 1813% over this period.

What is the land classification for Surya Avenue?

Surya Avenue is classified as Residential Class I Type - I.

Where can I find the registration office for Surya Avenue?

The registration office for Surya Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

How are stamp duties calculated for properties in Surya Avenue?

Stamp duties are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 3,16,800.