Guideline Value for O.U.Saminatha Street

O.U.Saminatha Street guideline value

The current guideline value of O.U.Saminatha Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Commercial Class I Type - II.

How the guideline value of O.U.Saminatha Street has changed

Over the years, the guideline value of O.U.Saminatha Street has seen significant changes. In the 2007 revision, the value was Rs 650 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in the 2012 revision, marking a rise of 438%. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The 2023 revision saw a substantial increase to Rs 3,500 per sq.ft, followed by a further rise to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, the increase was 49%. Overall, from the 2007 revision to the current 2024 value, there has been a remarkable increase of 492%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. O.U.Saminatha Street's 2024 guideline value is above this median.

• Old M.S.P.Lane: Rs 2,530 per sq.ft (2024)
• Old G.S.T. Street: Rs 6,600 per sq.ft (2024)
• North Street: Rs 2,200 per sq.ft (2024)
• N.K.Lane: Rs 1,650 per sq.ft (2024)
• Nithiyanandam Nagar Main Road: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 4-th St: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in O.U.Saminatha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers O.U.Saminatha Street?

The Sub Registrar Office that covers O.U.Saminatha Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26,mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of O.U.Saminatha Street?

The current guideline value of O.U.Saminatha Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 650 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 492% over the years.

What is the land classification of O.U.Saminatha Street?

O.U.Saminatha Street is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value, the stamp duty is 7% and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,46,500.

Which office handles the registration for O.U.Saminatha Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for O.U.Saminatha Street, located at No.26,mes Road, East Tambaram, Chennai-600059.