Guideline Value for SAMBAMDAM STREET

Sambamdam Street guideline value

The current guideline value of Sambamdam Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sambamdam Street has changed

Over the years, the guideline value of Sambamdam Street has seen several revisions. The 2012 revision set the value at Rs 7,500 per sq.ft, which then decreased to Rs 5,025 per sq.ft in the 2017 revision. The subsequent 2023 revision increased the value to Rs 7,500 per sq.ft, followed by the current 2024 revision, which raised it to Rs 8,200 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that Sambamdam Street's 2024 figure is below that median.

• Salayar 1st Street: Rs 4,900 per sq.ft (2024)
• Salai Street: Rs 8,200 per sq.ft (2024)
• SALAI LANE: Rs 8,200 per sq.ft (2024)
• Sandaveli Street: Rs 3,300 per sq.ft (2024)
• Sanjeevi Street Thalaiyari Street: Rs 8,200 per sq.ft (2024)
• Saiva Muthiah 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sambamdam Street

For a 1,000 sq.ft plot at the current rate of Rs 8,200 per sq.ft, the guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, making the total Rs 7,38,000. Stamp 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 Sambamdam Street?

The Sub Registrar Office that covers Sambamdam Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of properties in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price. The stamp duty is charged on whichever amount is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sambamdam Street?

The current guideline value of Sambamdam Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,200 per sq.ft in 2024.

What is the land classification for Sambamdam Street?

Sambamdam Street falls under the land classification of Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Sambamdam Street?

The Sub Registrar Office for Sambamdam Street is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property registration.