Guideline Value for SAMAYAPURAM NAGAR 3RD STREET

Samayapuram Nagar 3rd Street guideline value

The current guideline value of Samayapuram Nagar 3rd Street is Rs 3,030 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 I Type - I.

How the guideline value of Samayapuram Nagar 3rd Street has changed

Over the years, the guideline value for Samayapuram Nagar 3rd Street has undergone several revisions. The most recent revision in 2024 set the value at Rs 3,030 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,750 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,842 per sq.ft, reflecting a significant increase of 49% from the previous 2012 figure of Rs 2,750 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%, showcasing the fluctuations in property values over the years.

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 in this area is Rs 1,930 per sq.ft, making the current figure for Samayapuram Nagar 3rd Street above the median.

• Samayapuram Nagar 2nd Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 4th Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 5th Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 1st Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 6th Street: Rs 3,030 per sq.ft (2024)
• Samayapuram All Street: Rs 3,030 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,030 per sq.ft, the total guideline value would be Rs 30,30,000. The stamp duty at 7% would amount to Rs 2,12,100, and the registration fee at 2% would be Rs 60,600, bringing the total to Rs 2,72,700. 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 Samayapuram Nagar 3rd Street?

The Sub Registrar Office that covers Samayapuram 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 details.

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

The guideline value is a crucial factor when buying or selling property in Karambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during property registration.

When a property is registered, the guideline value is considered to ascertain the applicable fees. This means that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Samayapuram Nagar 3rd Street is Rs 3,030 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,750 per sq.ft in 2023 to Rs 3,030 per sq.ft in 2024, an increase of 10%. It was Rs 1,842 per sq.ft in 2017 and Rs 2,750 per sq.ft in 2012, showing fluctuations in the values over the years.

What are the other streets in Karambakkam with the same guideline value?

Other streets in Karambakkam with the same guideline value of Rs 3,030 per sq.ft include Samayapuram Nagar 1st Street, 2nd Street, 4th Street, 5th Street, 6th Street, and Samayapuram All Street.

What is the registration office for Samayapuram Nagar 3rd Street?

The registration office for Samayapuram 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.

How is stamp duty calculated for properties in Samayapuram Nagar 3rd Street?

Stamp duty for properties in Samayapuram Nagar 3rd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 30,30,000 would incur a stamp duty of Rs 2,12,100 at a rate of 7%.