Guideline Value for Suseela Nagar

Suseela Nagar guideline value

The current guideline value of Suseela Nagar, located in Kovilambakkam village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Suseela Nagar has changed

Over the years, the guideline value of Suseela Nagar has seen several revisions. The 2007 revision set the value at Rs 1,111 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a significant rise of 125%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and now the 2024 revision has set it at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

In total, from the 2007 revision to the current 2024 figure, the guideline value has increased by 148%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Kovilambakkam

In Kovilambakkam, there are 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Suseela Nagar matches this median value.

• Syndicate Bank Staff Colony: Rs 2,750 per sq.ft (2024)
• Tamilkudimagan Nagar: Rs 2,750 per sq.ft (2024)
• Subiksha Avenue: Rs 2,750 per sq.ft (2024)
• Subikisha Avenue 1 & 2 Main Road: Rs 2,750 per sq.ft (2024)
• Thiruchudar: Rs 4,070 per sq.ft (2024)
• Thiru Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Suseela Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Suseela Nagar?

The Sub Registrar Office covering Suseela Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded at a fair value as per government standards.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Suseela Nagar?

The current guideline value of Suseela Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,111 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, showing a total increase of 148% over the years.

What are the registration fees for property in Suseela Nagar?

The registration fees for property in Suseela Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Suseela Nagar?

The Pallavaram Sub Registrar Office handles registrations for Suseela Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Suseela Nagar?

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