Guideline Value for Surya Nagar Annex extension

Surya Nagar Annex extension guideline value

The current guideline value of Surya Nagar Annex extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Surya Nagar Annex extension has changed

The guideline value for Surya Nagar Annex extension has seen significant changes over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, while the latest 2024 revision increased it to Rs 3,300 per sq.ft, marking a change of +64%. Notably, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From the 2017 revision to the 2024 revision, there has been a substantial increase in the guideline value. This reflects the adjustments made to align with the current market conditions and land classifications.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values across its 1,946 streets, with figures in 2024 ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Surya Nagar Annex extension's 2024 figure above this median.

• Surya Nagar: Rs 1,300 per sq.ft (2024)
• Surya Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Surya Garden (Ward-01): Rs 1,300 per sq.ft (2024)
• Survey No.881/4: Rs 3,000 per sq.ft (2024)
• Survey No.821/1: Rs 1,600 per sq.ft (2024)
• Survey No.750/2A, 751: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Surya Nagar Annex extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Surya Nagar Annex extension?

The Sub Registrar Office that covers Surya Nagar Annex extension is 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 when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This ensures that the government receives the appropriate revenue based on the current market conditions.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Surya Nagar Annex extension?

The current guideline value of Surya Nagar Annex extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, which is a change of +64%.

Are there any years with no guideline value figures for Surya Nagar Annex extension?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Surya Nagar Annex extension.

What is the registration fee for property in Surya Nagar Annex extension?

The registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information online.