Guideline Value for Samandam Nagar

Samandam Nagar guideline value

The current guideline value of Samandam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Samandam Nagar has changed

The guideline value for Samandam Nagar has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,850 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. Following this, there was a further increase of 10% from 2023 to 2024. The overall increase from 2007 to 2024 amounts to 670%, reflecting significant changes in the guideline value over the years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is the same as the current value for Samandam Nagar.

• Samandam Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Samandam Nagar Main Salai: Rs 3,850 per sq.ft (2024)
• Sambandam Nagar - Aravindar Street: Rs 3,850 per sq.ft (2024)
• Sai Ram Nagar Annexe: Rs 3,850 per sq.ft (2024)
• Sairam Avenue 3rd Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Samandam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. 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 Samandam Nagar?

The Sub Registrar Office covering Samandam Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the property registration process.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Samandam Nagar?

The current guideline value of Samandam Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, with several revisions in between, including a decrease and subsequent increases.

What is the land classification for Samandam Nagar?

Samandam Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Virugambakkam Sub Registrar Office?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Samandam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.