Guideline Value for Surya Narayana Nagar

Surya Narayana Nagar guideline value

The current guideline value of Surya Narayana Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Thiruverkadu village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Surya Narayana Nagar has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012, marking a rise of 367%. However, it then decreased to Rs 938 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 1,400 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 1,540 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 413%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value is Rs 1,540 per sq.ft, which is the same as the guideline value for Surya Narayana Nagar.

• Swamy Ramadhas Nagar: Rs 1,540 per sq.ft (2024)
• Subramaniyapuram: Rs 1,540 per sq.ft (2024)
• Thambusami Nagar II nd Street: Rs 1,540 per sq.ft (2024)
• Thambusami Nagar I st Street: Rs 1,540 per sq.ft (2024)
• Thambusamy Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Thambusamy Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Surya Narayana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. 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 more information.

Which Sub Registrar Office covers Surya Narayana Nagar?

The Sub Registrar Office that covers Surya Narayana Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruverkadu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in assessing the appropriate taxes due at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to avoid any legal complications.

Frequently asked questions

What is the current guideline value of Surya Narayana Nagar?

The current guideline value of Surya Narayana Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting an overall increase of 413% over this period.

What are the stamp duty and registration fees for property in Surya Narayana Nagar?

For a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 and the registration fee would be Rs 30,800, totaling Rs 1,38,600.

Which office handles registrations for Surya Narayana Nagar?

The Kunrathur Sub Registrar Office handles registrations for Surya Narayana Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Surya Narayana Nagar?

Surya Narayana Nagar is classified as Residential Class I Type - I, which influences its guideline value and usage regulations.