Guideline Value for SAM LEO MUTHU NAGAR PART - I, II

Sam Leo Muthu Nagar Part - I, II guideline value

The current guideline value for Sam Leo Muthu Nagar Part - I, II is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Mixed Type - II.

How the guideline value of Sam Leo Muthu Nagar Part - I, II has changed

The guideline value for Sam Leo Muthu Nagar Part - I, II has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,000 per sq.ft. This increased to Rs 1,493 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, positioning Sam Leo Muthu Nagar Part - I, II above this median.

• Santhi Nagar: Rs 440 per sq.ft (2024)
• Sabari Nagar: Rs 880 per sq.ft (2024)
• Sathyamurthy Nagar: Rs 720 per sq.ft (2024)
• R.M.K. Nagar: Rs 990 per sq.ft (2024)
• R.M..G.Nagar: Rs 990 per sq.ft (2024)
• Selvaganapathy Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sam Leo Muthu Nagar Part - I, II

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 fees together 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sam Leo Muthu Nagar Part - I, II?

The Sub Registrar Office that covers Sam Leo Muthu Nagar Part - I, II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nandambakkam, as it determines the minimum price at which a property can be registered. Buyers should be aware that the guideline value is used to calculate stamp duty and registration fees, which are mandatory during the registration process.

When a property transaction occurs, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Sam Leo Muthu Nagar Part - I, II?

The current guideline value of Sam Leo Muthu Nagar Part - I, II is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 65%, starting from Rs 1,000 per sq.ft to Rs 1,650 per sq.ft in 2024.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 1,48,500.

Which office handles property registrations for Sam Leo Muthu Nagar Part - I, II?

The Padappai Sub Registrar Office handles property registrations for Sam Leo Muthu Nagar Part - I, II, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Nandambakkam?

The median guideline value in Nandambakkam is Rs 880 per sq.ft, with Sam Leo Muthu Nagar Part - I, II being above this median at Rs 1,650 per sq.ft.