Guideline Value for Suyambulingam Nagar

Suyambulingam Nagar guideline value

The current guideline value of Suyambulingam Nagar, located in Pullilyon village, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Suyambulingam Nagar has changed

The guideline value for Suyambulingam Nagar has seen several revisions over the years. In 2003, the value was Rs 29 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007, marking a rise of 1279%. The value then rose to Rs 700 per sq.ft in 2012, reflecting a 75% increase from the previous revision. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 469 per sq.ft. The 2023 revision set the value at Rs 700 per sq.ft, which was then increased by 10% to Rs 770 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 2555%. The register has no figure for the year 2002 for this street.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, and Suyambulingam Nagar's 2024 figure is above this median.

• Sundara Vinayagar Nagar (S.V. Nagar): Rs 440 per sq.ft (2024)
• Sundara Vinayagar Koil Street: Rs 440 per sq.ft (2024)
• Teachers Modern Town: Rs 770 per sq.ft (2024)
• Subash Nagar Annex I: Rs 550 per sq.ft (2024)
• Thanigai Nagar: Rs 440 per sq.ft (2024)
• Thanigai Nagar Annex: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Suyambulingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 information.

Which Sub Registrar Office covers Suyambulingam Nagar?

The Sub Registrar Office covering Suyambulingam Nagar 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 details.

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

The guideline value is a crucial factor when buying or selling property in Pullilyon. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Suyambulingam Nagar?

The current guideline value of Suyambulingam Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 29 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, showing an overall increase of 2555% over this period.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Suyambulingam Nagar?

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

What is the median guideline value in Pullilyon?

The median guideline value in Pullilyon is Rs 700 per sq.ft for the year 2024, with Suyambulingam Nagar's value being above this median.