Guideline Value for Suyambulingam Nagar Annex - 1

Suyambulingam Nagar Annex - 1 guideline value

The current guideline value of Suyambulingam Nagar Annex - 1 is Rs 1,006 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Suyambulingam Nagar Annex - 1 has changed

The guideline value for Suyambulingam Nagar Annex - 1 has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The 2023 revision marked a significant increase to Rs 500 per sq.ft, and the most recent revision in 2024 has further raised it to Rs 1,006 per sq.ft.

Notably, the changes between these revisions have been substantial. From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 was even more pronounced, with a rise of 101%. Overall, from 2007 to 2024, the guideline value has increased by 403%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Suyambulingam Nagar Annex - 1 is above this median.

• Suyambulingam Nagar Anex: Rs 1,006 per sq.ft (2024)
• Suyambulingam Nagar Annex - 3: Rs 1,006 per sq.ft (2024)
• Sumangali Nagar: Rs 1,006 per sq.ft (2024)
• T.G. Swamy Nagar: Rs 1,004 per sq.ft (2024)
• Thanikachalam Nagar: Rs 1,000 per sq.ft (2024)
• Sri Vetri Nagar Extn.: Rs 1,004 per sq.ft (2024)

Stamp duty and registration fee for property in Suyambulingam Nagar Annex - 1

For a 1,000 sq.ft plot at the current guideline value of Rs 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, leading to a total of Rs 90,540. 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 Suyambulingam Nagar Annex - 1?

The Sub Registrar Office that covers Suyambulingam Nagar Annex - 1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the government’s valuation.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these charges are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Suyambulingam Nagar Annex - 1?

The current guideline value of Suyambulingam Nagar Annex - 1 is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 1,006 per sq.ft in 2024, marking an overall increase of 403% over the years.

What are the stamp duty and registration fees for property in Suyambulingam Nagar Annex - 1?

For a 1,000 sq.ft plot, the total guideline value is Rs 10,06,000. The stamp duty would be Rs 70,420, and the registration fee would be Rs 20,120, totaling Rs 90,540.

Which Sub Registrar Office covers this area?

The Redhills Sub Registrar Office covers Suyambulingam Nagar Annex - 1, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Suyambulingam Nagar Annex - 1?

Suyambulingam Nagar Annex - 1 is classified as Residential Class III Type - I, indicating its suitability for residential purposes.