Guideline Value for SAMPOORNAM NAGAR

Sampoornam Nagar guideline value

The current guideline value of Sampoornam Nagar, located in Medavakkam village, is Rs 1,870 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Sampoornam Nagar has changed

The guideline value for Sampoornam Nagar has seen significant changes over the years. In 2002, the value was Rs 71 per sq.ft, which increased to Rs 111 per sq.ft in 2003. The value then rose to Rs 300 per sq.ft in 2007, and after a substantial increase, it reached Rs 1,700 per sq.ft in 2012. However, it dropped to Rs 1,139 per sq.ft in 2017. The value then increased to Rs 1,700 per sq.ft in 2023, before reaching the current figure of Rs 1,870 per sq.ft in 2024.

In summary, the changes between revisions show a +10% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +467% increase from 2007 to 2012, a +170% increase from 2003 to 2007, and a +56% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +2534%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Sampoornam Nagar's 2024 guideline value below that median.

• Sannathi Street: Rs 1,870 per sq.ft (2024)
• Sakthi Nagar Part II /Lakshmi Nagar St Somu Nagar: Rs 2,200 per sq.ft (2024)
• Santhanam Street: Rs 2,200 per sq.ft (2024)
• Sakthi Auenue: Rs 2,200 per sq.ft (2024)
• Sairam Nagar / All Street: Rs 3,300 per sq.ft (2024)
• Sairam Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sampoornam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, while the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sampoornam Nagar?

The Sub Registrar Office that covers Sampoornam Nagar is the Chennai South Joint I 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 Medavakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Medavakkam. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a value that reflects their worth based on location and type.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sampoornam Nagar?

The current guideline value of Sampoornam Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 71 per sq.ft in 2002 to the current value of Rs 1,870 per sq.ft in 2024, showing an overall increase of +2534%.

What is the land classification of Sampoornam Nagar?

Sampoornam Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for a property in Sampoornam Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot amounts to Rs 1,68,300 in total.

Where is the Sub Registrar Office for Sampoornam Nagar located?

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