Guideline Value for SAMIYAR MADAM 3RD STREET

Samiyar Madam 3rd Street guideline value

The current guideline value of Samiyar Madam 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam Sub Registrar Office (SRO) and is classified as Residential Class III Type - II.

How the guideline value of Samiyar Madam 3rd Street has changed

The guideline value for Samiyar Madam 3rd Street has undergone several revisions over the years. In 2003, the value was Rs 477 per sq.ft, which increased to Rs 550 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 2,500 per sq.ft in 2012, but then dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision marked an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, the value rose by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 355%. The overall increase from 2003 to 2024 is 466%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for Samiyar Madam 3rd Street.

• Samiyar Madam 2nd Street: Rs 2,700 per sq.ft (2024)
• Samiyar Madam 4th Street: Rs 2,700 per sq.ft (2024)
• Samiyar Madam 1st Street: Rs 2,700 per sq.ft (2024)
• Samiyar Madam: Rs 2,700 per sq.ft (2024)
• Sampandam Street: Rs 3,800 per sq.ft (2024)
• Samandippoo Colony 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Samiyar Madam 3rd Street

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 at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Samiyar Madam 3rd Street?

The Sub Registrar Office that covers Samiyar Madam 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with the regulations set by the Registration Department.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be sold. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Samiyar Madam 3rd Street?

The current guideline value of Samiyar Madam 3rd Street 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 significantly, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase.

What is the land classification for Samiyar Madam 3rd Street?

Samiyar Madam 3rd Street is classified as Residential Class III Type - II.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated on properties in Samiyar Madam 3rd Street?

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