Guideline Value for SAMINATHAN NAGAR

Saminathan Nagar guideline value

The current guideline value of Saminathan Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Saminathan Nagar has changed

The guideline value for Saminathan Nagar has seen significant changes over the years. Starting from Rs 69 per sq.ft in 2002, it rose to Rs 250 per sq.ft in 2007, marking an increase of 262%. By 2012, the value reached Rs 2,700 per sq.ft, which was a remarkable jump of 980% from the previous revision. However, the value then decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%.

In the latest revision in 2024, the guideline value is now Rs 2,900 per sq.ft, reflecting an increase of 60% from 2017. Overall, from 2002 to 2024, the guideline value has increased by 4103%. The register has no figures for the years 2023 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Saminathan Nagar's current value above this median.

• Samjibai Nagar: Rs 1,300 per sq.ft (2024)
• Sampath Salai: Rs 1,600 per sq.ft (2024)
• Sakthi Nagar: Rs 2,500 per sq.ft (2024)
• Santhosh Nagar: Rs 2,900 per sq.ft (2024)
• Santhosh Nagar Murugan Koil Street: Rs 2,900 per sq.ft (2024)
• Santhosh Nagar Phase II: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Saminathan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total cost for these fees to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saminathan Nagar?

The Sub Registrar Office that covers Saminathan Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to determine the applicable fees. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Saminathan Nagar?

The current guideline value of Saminathan Nagar is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 69 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 4103% over this period.

What is the registration fee for property in Saminathan Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 29,00,000, the registration fee would be Rs 58,000.

Which office handles property registrations in Saminathan Nagar?

The Villivakkam Sub Registrar Office handles property registrations in Saminathan Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the other streets in Korattur with their guideline values?

Other streets in Korattur include Samjibai Nagar at Rs 1,300 per sq.ft, Sampath Salai at Rs 1,600 per sq.ft, Sakthi Nagar at Rs 2,500 per sq.ft, and Santhosh Nagar, Santhosh Nagar Murugan Koil Street, and Santhosh Nagar Phase II, all at Rs 2,900 per sq.ft.