Guideline Value for S.S. NAGAR 3RD STREET

S.S. Nagar 3rd Street guideline value

The current guideline value of S.S. Nagar 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of S.S. Nagar 3rd Street has changed

The guideline value for S.S. Nagar 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. In 2023, the value increased significantly to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%. However, the overall change from 2012 to 2024 shows a 10% increase. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,930 per sq.ft, placing S.S. Nagar 3rd Street's 2024 figure below this median.

• S.S. Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• S.S. Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• S.S. Nagar Main Road: Rs 1,110 per sq.ft (2024)
• S.S.Nagar: Rs 1,650 per sq.ft (2024)
• Sriram Nagar Main Road: Rs 1,930 per sq.ft (2024)
• Sriram Nagar 3rd Street: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in S.S. Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.S. Nagar 3rd Street?

The Sub Registrar Office that covers S.S. Nagar 3rd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the property is not sold below a certain value.

When a property is registered, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency in property transactions and helps the government in collecting appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of S.S. Nagar 3rd Street?

The current guideline value of S.S. Nagar 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for S.S. Nagar 3rd Street?

The land classification for S.S. Nagar 3rd Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for S.S. Nagar 3rd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000.