Guideline Value for SAMIYAR GARDEN

Samiyar Garden guideline value

The current guideline value of Samiyar Garden, located in Saidapet village under the Chennai South Joint II SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Samiyar Garden has changed

The guideline value for Samiyar Garden has seen several revisions over the years. In 2002, the guideline value was Rs 705 per sq.ft. This increased to Rs 883 per sq.ft in 2003, marking a 25% rise. The value further increased to Rs 1,100 per sq.ft in 2007, which was a 25% increase from the previous revision. The 2012 revision set the value at Rs 3,000 per sq.ft, reflecting a significant 173% increase from 2007. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a drop of 33% from the previous figure. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it stands at Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 368%. There are no figures available for the revisions in years other than those specified.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Samiyar Garden is below this median.

• Salavaiyalar Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Salavaiyalar Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Salaivaiyalar 1st Street: Rs 4,400 per sq.ft (2024)
• Rathinam Thottam 1st Street: Rs 4,400 per sq.ft (2024)
• Rathinam Thottam: Rs 3,300 per sq.ft (2024)
• Rangabashyam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Samiyar Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Samiyar Garden?

The Sub Registrar Office that covers Samiyar Garden is the Chennai South Joint II 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 details.

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

The guideline value plays a crucial role during the registration of property in Saidapet. It is used to determine the stamp duty and registration fees that need to be paid when a property transaction occurs. Buyers and sellers should be aware that the duty is calculated based on the higher of the guideline value or the sale price.

This ensures that the government receives the appropriate revenue from property transactions. It is essential for buyers to understand the guideline value as it directly impacts the overall cost of acquiring property in the area.

Frequently asked questions

What is the current guideline value of Samiyar Garden?

The current guideline value of Samiyar Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 705 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 368% over the years.

What is the land classification for Samiyar Garden?

Samiyar Garden falls under the Residential Class III Type - I land classification.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Samiyar Garden is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Samiyar Garden?

The Sub Registrar Office for Samiyar Garden is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.