Guideline Value for Chinnasamy Nagar

Chinnasamy Nagar guideline value

The current guideline value of Chinnasamy Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Somangalam village under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Chinnasamy Nagar has changed

Over the years, the guideline value for Chinnasamy Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision recorded a decrease to Rs 134 per sq.ft, followed by a significant increase to Rs 200 per sq.ft in the 2023 revision, which remained the same in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Chinnasamy Nagar is below this median.

• Dharmashastha Nagar: Rs 150 per sq.ft (2024)
• Doctor Avenue: Rs 250 per sq.ft (2024)
• Doctors Avenue Annexe-I: Rs 400 per sq.ft (2024)
• Dr.APJ Abdul Kalam Nagar: Rs 250 per sq.ft (2024)
• Balaji Nagar: Rs 400 per sq.ft (2024)
• Bajanai koil street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the 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 Chinnasamy Nagar?

The Sub Registrar Office that covers Chinnasamy Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Somangalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency in the transaction process and aids in the assessment of taxes owed to the government.

Frequently asked questions

What is the current guideline value of Chinnasamy Nagar?

The current guideline value of Chinnasamy Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the 2012 figure at Rs 200 per sq.ft, decreasing to Rs 134 per sq.ft in 2017, then increasing back to Rs 200 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification of Chinnasamy Nagar?

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

What are the other streets in Somangalam with guideline values?

Other streets in Somangalam have varying guideline values. For instance, Dharmashastha Nagar is at Rs 150 per sq.ft, while Doctor Avenue is at Rs 250 per sq.ft, and several others range up to Rs 400 per sq.ft.

Where can I find the Sub Registrar Office for Chinnasamy Nagar?

The Sub Registrar Office for Chinnasamy Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registration processes for properties in the area.