Guideline Value for Surya Nagar

Surya Nagar guideline value

The current guideline value of Surya Nagar, located in Ammanambakkam village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Surya Nagar has changed

Over the years, the guideline value of Surya Nagar has seen several revisions. In 2007, the guideline value was Rs 175 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it dropped to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the guideline value at Rs 500 per sq.ft, showing no change from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was significant at 186%, while the overall change from 2007 to 2024 also reflects an increase of 186%.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 15 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft, with the median value being Rs 500 per sq.ft. Surya Nagar's 2024 figure aligns with this median.

• Sri Venkateswara Nagar Phase-I: Rs 500 per sq.ft (2024)
• Velavan Nagar: Rs 500 per sq.ft (2024)
• Sivasakthi Nagar Extn: Rs 500 per sq.ft (2024)
• Sivasakthi Nagar: Rs 500 per sq.ft (2024)
• SaiRam nagar: Rs 500 per sq.ft (2024)
• Kannan Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Surya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Surya Nagar?

The Sub Registrar Office that covers Surya Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Ammanambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair value, preventing undervaluation. This process is essential for maintaining transparency and consistency in real estate transactions in the region.

Frequently asked questions

What is the current guideline value of Surya Nagar?

The current guideline value of Surya Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant increase from Rs 175 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then a drop to Rs 335 per sq.ft in 2017, and finally stabilizing at Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Surya Nagar?

Surya Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What other streets have the same guideline value in Ammanambakkam?

Other streets in Ammanambakkam, such as Sri Venkateswara Nagar Phase-I, Velavan Nagar, and Sivasakthi Nagar, also have a guideline value of Rs 500 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Surya Nagar?

The Gooduvancheri Sub Registrar Office, which covers Surya Nagar, is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.