Guideline Value for SAMINANAYAKKAN STREET

Saminanayakkan Street guideline value

The current guideline value of Saminanayakkan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Saminanayakkan Street has changed

The guideline value for Saminanayakkan Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 400 per sq.ft, which then increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 150%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a drop of 33%. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent 2024 revision has set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Saminanayakkan Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Saminanayakkan Street's 2024 guideline value is below this median.

• Sapthagiri Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Sarangan Garden: Rs 1,100 per sq.ft (2024)
• SADAGOPAN STREET 1st CROSS STREET: Rs 2,200 per sq.ft (2024)
• Sadagopan Street: Rs 2,200 per sq.ft (2024)
• Saba Ganesh Garden: Rs 3,000 per sq.ft (2024)
• River View Residency: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Saminanayakkan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the 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 Saminanayakkan Street?

The Sub Registrar Office that covers Saminanayakkan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Karapakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Saminanayakkan Street?

The current guideline value of Saminanayakkan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the median guideline value in Karapakkam?

The median guideline value in Karapakkam is Rs 1,700 per sq.ft, while Saminanayakkan Street's 2024 value is below this median.

What fees are associated with property transactions in Saminanayakkan Street?

When purchasing property in Saminanayakkan Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Saminanayakkan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.