Guideline Value for SAMUEL / SURENDRAN GARDEN

Samuel / Surendran Garden guideline value

The current guideline value of Samuel / Surendran Garden is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village and falls under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Samuel / Surendran Garden has changed

The guideline value for Samuel / Surendran Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which increased to Rs 502 per sq.ft in 2017. Following this, the value saw a significant rise to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, marking an increase of 99% from 2017 to 2023 and an overall increase of 33% from 2012 to 2024. The register has no figure for this street in 2002, 2003, and 2007.

In summary, the guideline value remained at Rs 1,000 per sq.ft from the 2023 revision through to the 2024 revision, indicating no percentage change. The substantial increase from Rs 502 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023 reflects a notable adjustment in property valuation for this area.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. Samuel / Surendran Garden's 2024 guideline value is below this median.

• Salamon Garden: Rs 1,000 per sq.ft (2024)
• Salammal Garden: Rs 1,100 per sq.ft (2024)
• Sankarraman Garden: Rs 1,100 per sq.ft (2024)
• Sakthi Nagar: Rs 1,700 per sq.ft (2024)
• Sarathadevi Garden: Rs 1,100 per sq.ft (2024)
• Sarawathi Garden: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Samuel / Surendran Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samuel / Surendran Garden?

The Sub Registrar Office that covers Samuel / Surendran Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chemmancheri, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This ensures that both parties are informed of the financial implications associated with the property transfer.

Frequently asked questions

What is the current guideline value of Samuel / Surendran Garden?

The current guideline value of Samuel / Surendran Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in both 2023 and 2024. This reflects a significant increase over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Samuel / Surendran Garden?

The Neelankarai Sub Registrar Office handles property registration for Samuel / Surendran Garden. It is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum price at which properties can be registered. It is also used to calculate the stamp duty and registration fees, impacting the overall cost of property transactions.