Guideline Value for SAMPATH SALAI

Sampath Salai guideline value

The current guideline value of Sampath Salai is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Sampath Salai has changed

The guideline value for Sampath Salai has seen significant changes over the years. The 2007 revision set the value at Rs 375 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2012 revision. However, it dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision raised it to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,600 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 327%. The changes between specific revisions include a 300% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 7% increase from 2023 to 2024.

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 Sampath Salai is below this median.

• Samjibai Nagar: Rs 1,300 per sq.ft (2024)
• Saminathan Nagar: Rs 2,900 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 Sampath Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Sampath Salai?

The Sampath Salai falls under 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, you can visit this link.

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

The guideline value is a crucial factor in the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Sampath Salai?

The current guideline value of Sampath Salai is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 375 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 327% over this period.

What is the median guideline value of streets in Korattur?

The median guideline value of streets in Korattur is Rs 2,500 per sq.ft, while Sampath Salai's value is below this median.

What are the stamp duty and registration fees for a property in Sampath Salai?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Sampath Salai?

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