Guideline Value for SAMJIBAI NAGAR

Samjibai Nagar guideline value

The current guideline value of Samjibai Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO), and is classified as Residential Class IV Type - I.

How the guideline value of Samjibai Nagar has changed

The guideline value for Samjibai Nagar has undergone several revisions since 2002. The 2002 revision set the value at Rs 56 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007. Following this, the value rose dramatically to Rs 1,200 per sq.ft in 2012, but then decreased to Rs 804 per sq.ft in 2017. The value saw a substantial increase to Rs 1,200 per sq.ft in 2023, before reaching the current rate of Rs 1,300 per sq.ft in 2024. Notably, there is no figure available for the year 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 8%. The most significant change occurred from 2007 to 2012, with an increase of 380%. Overall, from 2002 to 2024, the guideline value has increased by 2221%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Samjibai Nagar is below this median.

• Saminathan Nagar: Rs 2,900 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 Samjibai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Samjibai Nagar?

The Sub Registrar Office that covers Samjibai Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is essential for determining the stamp duty and registration fees when buying or selling property in Korattur. It serves as a reference point for the value of the property being transacted, ensuring that the appropriate taxes are levied based on the established rates.

When registering a property, buyers must pay the stamp duty calculated on the higher of the guideline value or the sale price. This process is crucial to ensure compliance with local regulations and to formalize the ownership transfer.

Frequently asked questions

What is the current guideline value of Samjibai Nagar?

The current guideline value of Samjibai Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 56 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, showing a significant increase over the years.

What are the stamp duty and registration fees for properties in Samjibai Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Samjibai Nagar?

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

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that taxes are appropriately calculated based on the established rates.