Guideline Value for S I S I Colony Samy Nagar

S I S I Colony Samy Nagar guideline value

The current guideline value of S I S I Colony Samy Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of S I S I Colony Samy Nagar has changed

The guideline value for S I S I Colony Samy Nagar has seen several revisions over the years. The 2002 revision recorded a guideline value of Rs 242 per sq.ft, which increased significantly to Rs 271 per sq.ft in 2003. Following this, the value surged to Rs 1,200 per sq.ft in 2007, marking a substantial increase of 343%. In 2012, the value adjusted to Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision saw the value rise again to Rs 1,675 per sq.ft, and by 2023, it had increased to Rs 2,500 per sq.ft.

The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,057%.

Guideline values in Ullagaram

Ullagaram village has a total of 298 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of S I S I Colony Samy Nagar.

• S I S I Colony: Rs 3,900 per sq.ft (2024)
• Solaiyappan Street: Rs 3,900 per sq.ft (2024)
• Sengazhani Amman Street: Rs 2,200 per sq.ft (2024)
• Selvaganapathi Koil Street South: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street North: Rs 2,800 per sq.ft (2024)
• Selvaganapathi Koil Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in S I S I Colony Samy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total fees would be Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers S I S I Colony Samy Nagar?

The Sub Registrar Office that covers S I S I Colony Samy Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware that the stamp duty and registration fees are calculated based on this guideline value.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both parties to understand that the guideline value may influence the overall transaction costs, including taxes and fees associated with the property transfer.

Frequently asked questions

What is the current guideline value of S I S I Colony Samy Nagar?

The current guideline value of S I S I Colony Samy Nagar is Rs 2,800 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 242 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 1,057% over the years.

What are the stamp duty and registration fees for properties in S I S I Colony Samy Nagar?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office is responsible for S I S I Colony Samy Nagar?

The Alandur Sub Registrar Office is responsible for S I S I Colony Samy Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties in Ullagaram. It influences the calculation of stamp duty and registration fees during property transactions.