Guideline Value for SAMY NAGAR 1 TO 2 STREETS

Samy Nagar 1 To 2 Streets guideline value

The current guideline value for Samy Nagar 1 To 2 Streets in Thirusulam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Samy Nagar 1 To 2 Streets has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2023 revision, the value increased to Rs 1,000 per sq.ft, and further rose to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen an increase of 10%. The changes in the guideline value reflect the fluctuations in property valuation over the years.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, indicating that the guideline value for Samy Nagar 1 To 2 Streets is below this median.

• Sakthi Nagar - Thiruvalluvar Street: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar - Mahathma Gandhi Street: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar - Kambar Street: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar - Bharathiyar Street: Rs 1,320 per sq.ft (2024)
• Sakthi Nagar: Rs 1,320 per sq.ft (2024)
• Rani Anna Nagar Pillaiyar Koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Samy Nagar 1 To 2 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Samy Nagar 1 To 2 Streets?

The Sub Registrar Office that covers Samy Nagar 1 To 2 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirusulam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that are applicable, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is important to note that the guideline value serves as a benchmark for property valuation during registration. Buyers and sellers should be informed about the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Samy Nagar 1 To 2 Streets?

The current guideline value of Samy Nagar 1 To 2 Streets is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Samy Nagar 1 To 2 Streets?

Samy Nagar 1 To 2 Streets is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Samy Nagar 1 To 2 Streets is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total cost for these fees of Rs 99,000.