Guideline Value for SAMAYAPURAM

Samayapuram guideline value

The current guideline value for Samayapuram is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Samayapuram has changed

Looking at the historical revisions, the guideline value for Samayapuram was Rs 2,500 per sq.ft in 2023, which increased to Rs 2,750 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, reflecting a significant increase of +49% over the six-year period leading up to 2023. The register has no figures for the years 2002, 2003, and 2007.

In 2012, the guideline value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017, indicating a drop of -33%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of +10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Samayapuram's 2024 figure above this median.

• Samayapuram Nagar 1 To 5 Cross Street: Rs 2,750 per sq.ft (2024)
• Sakthi Sairam 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 2nd Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 1st Street: Rs 1,660 per sq.ft (2024)
• Sakthi Sairam 1st Cross Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Samayapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Samayapuram?

The Sub Registrar Office covering Samayapuram 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 Vanagaram

The guideline value plays a crucial role in the registration process of property transactions in Vanagaram. It is used to determine the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as prescribed by the authorities. This helps in maintaining transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Samayapuram?

The current guideline value for Samayapuram is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing various increases and decreases over the years.

What is the land classification for Samayapuram?

The land classification for Samayapuram is Residential Special Type - I, indicating the type of residential development allowed in the area.

Where can I find the Sub Registrar Office for Samayapuram?

The Sub Registrar Office for Samayapuram is 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?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.