Guideline Value for Suryanarayana 8th Lane

Suryanarayana 8th Lane guideline value

The current guideline value of Suryanarayana 8th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Suryanarayana 8th Lane has changed

The guideline value for Suryanarayana 8th Lane has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, marking a 64% increase from the 2017 figure.

Between the revisions, there were notable changes. From 2007 to 2012, there was a substantial increase of 150%, but from 2012 to 2017, the value decreased by 33%. Overall, from 2007 to 2024, the guideline value has increased by 175%. It is important to note that the register does not have figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with the median being Rs 1,600 per sq.ft. The guideline value of Suryanarayana 8th Lane is above this median.

• Suryanarayana 7th lane: Rs 2,200 per sq.ft (2024)
• Suryanarayana 6th lane: Rs 2,200 per sq.ft (2024)
• Suryanarayana 5th lane: Rs 2,200 per sq.ft (2024)
• Suryanarayana 4th lane: Rs 2,200 per sq.ft (2024)
• Suryanarayana 3rd lane: Rs 2,200 per sq.ft (2024)
• Suryanarayana 2nd lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Suryanarayana 8th Lane

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Suryanarayana 8th Lane?

The Suryanarayana 8th Lane is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is accounted for accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Suryanarayana 8th Lane?

The current guideline value of Suryanarayana 8th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 175% over this period.

What is the land classification for Suryanarayana 8th Lane?

Suryanarayana 8th Lane is classified as Residential Class I Type - I.

Where can I find the registration office for Suryanarayana 8th Lane?

The registration office for Suryanarayana 8th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Suryanarayana 8th Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000 at a rate of 7%.