Guideline Value for SAMINATHAPURAM

Saminathapuram guideline value

The current guideline value of Saminathapuram is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Mixed Type - II land.

How the guideline value of Saminathapuram has changed

The guideline value for Saminathapuram has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,700 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, followed by an 8% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Saminathapuram.

• Santhosapuram: Rs 2,700 per sq.ft (2024)
• Santhosapuram Veeramamunivar Street: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar: Rs 2,700 per sq.ft (2024)
• Sabari Garden: Rs 1,650 per sq.ft (2024)
• Royal Garden: Rs 3,300 per sq.ft (2024)
• Seetthalakshmi Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Saminathapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty is calculated at 7%, resulting in Rs 1,89,000, while the registration fee at 2% amounts to Rs 54,000. Together, the total cost for stamp duty and registration fee is Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saminathapuram?

The Sub Registrar Office that covers Saminathapuram is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating the sale price, as the registration office will use this value to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Saminathapuram?

The current guideline value of Saminathapuram is Rs 2,700 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 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Saminathapuram?

Saminathapuram is classified as Mixed Type - II land, which influences its guideline value and usage.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Saminathapuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000.