Guideline Value for Susai Puram

Susai Puram guideline value

The current guideline value of Susai Puram is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Nungambakkam village and falls under the Chennai Central Joint II SRO, classified as Residential Class IV Type - II.

How the guideline value of Susai Puram has changed

The guideline value for Susai Puram has seen significant changes over the years. In 2002, the guideline value was Rs 756 per sq.ft, which increased to Rs 1,800 per sq.ft in 2007, marking a rise of 138%. Following this, the value jumped to Rs 5,000 per sq.ft in 2012, reflecting a substantial increase of 178%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 5,000 per sq.ft in 2023 and finally reached Rs 5,500 per sq.ft in 2024, showing a 10% increase from the previous year.

It is important to note that the register has no figure for Susai Puram in 2003. Overall, from 2002 to 2024, the guideline value has increased by 628%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Susai Puram's 2024 figure below this median.

• Tank Bund Road: Rs 9,300 per sq.ft (2024)
• Subbarayan Street: Rs 8,800 per sq.ft (2024)
• Subbarayan Avenue: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 3rd Street: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 2nd Street: Rs 11,500 per sq.ft (2024)
• Subbarao Avenue 1st Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Susai Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Susai Puram?

The Sub Registrar Office that covers Susai Puram is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

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

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Susai Puram?

The current guideline value of Susai Puram is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 756 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Nungambakkam?

The median guideline value in Nungambakkam is Rs 8,800 per sq.ft, which is higher than the current value of Susai Puram.

What are the stamp duty and registration fees for property in Susai Puram?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Susai Puram?

The Chennai Central Joint II Sub Registrar Office handles property registrations for Susai Puram, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.