Guideline Value for Surya Nagar

Surya Nagar guideline value

The current guideline value of Surya Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Surya Nagar has changed

In the 2012 revision, the guideline value was Rs 1,100 per sq.ft. This figure was reduced to Rs 737 per sq.ft in the 2017 revision, marking a decrease of 33%. The value then saw a significant increase to Rs 1,100 per sq.ft in the 2023 revision, followed by a further rise to Rs 1,210 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The most notable change occurred between 2017 and 2023, where the value increased by 49%.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Surya Nagar's 2024 figure above this median.

• Sri Vinayaka Avenue (540/4): Rs 990 per sq.ft (2024)
• Sri Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 880 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 770 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 440 per sq.ft (2024)
• Thirumalai Nagar: Rs 880 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, while the registration fee at 2% would be Rs 24,200, bringing the total charges to Rs 1,08,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Surya Nagar?

The Sub Registrar Office that covers Surya Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Nandambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it influences the overall cost of the transaction. The stamp duty and registration fees are calculated based on this value, impacting the total expenditure involved in the property transfer.

Frequently asked questions

What is the current guideline value of Surya Nagar?

The current guideline value of Surya Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,100 per sq.ft in 2023 to Rs 1,210 per sq.ft in 2024. Overall, the value has increased by 10% from 2012 to 2024.

What is the land classification for Surya Nagar?

Surya Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Surya Nagar?

The registration office for Surya Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 12,10,000, leading to specific fees based on that value.