Guideline Value for S.S.NAGAR

S.S.Nagar guideline value

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

How the guideline value of S.S.Nagar has changed

The guideline value for S.S.Nagar has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,005 per sq.ft. The 2023 revision saw an increase to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in 2024.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most significant increase occurred from 2007 to 2012 at 200%. Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karambakkam

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be 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, making the total fees together Rs 1,48,500. It is important to note that 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 more details.

Which Sub Registrar Office covers S.S.Nagar?

The Sub Registrar Office covering S.S.Nagar 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karambakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction, ensuring that the value of the property is accurately reflected in official records.

When a property is sold, the guideline value is considered to ensure compliance with local regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of S.S.Nagar?

The current guideline value of S.S.Nagar 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 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for S.S.Nagar?

S.S.Nagar falls under Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for S.S.Nagar?

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

How is the stamp duty calculated for properties in S.S.Nagar?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, the stamp duty on a property valued at Rs 16,50,000 would be Rs 1,15,500 at a rate of 7%.