Guideline Value for Samandar Nagar

Samandar Nagar guideline value

The current guideline value of Samandar Nagar, located in Pammal village under the Pammal SRO, is Rs 1,870 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Samandar Nagar has changed

The guideline value of Samandar Nagar has seen significant changes over the years. Starting from Rs 200 per sq.ft in 2002, it increased to Rs 226 per sq.ft in 2003, marking a 13% rise. In 2007, the value jumped to Rs 575 per sq.ft, reflecting a substantial increase of 154%. The 2017 revision saw the value rise to Rs 1,139 per sq.ft, which was a remarkable 98% increase from the previous revision. There is no figure available for the 2012 revision for this street. The value further increased to Rs 1,700 per sq.ft in 2023, a 49% rise from 2017, and finally reached the current rate of Rs 1,870 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 835%, showcasing the changes in property valuation over the years.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value of Samandar Nagar is below this median.

• Samandam Street: Rs 1,870 per sq.ft (2024)
• Samandar Street / Near Pammal Main Road: Rs 880 per sq.ft (2024)
• Sakthivel Street: Rs 1,760 per sq.ft (2024)
• Samuel Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Samundeeswari Nagar: Rs 1,980 per sq.ft (2024)
• Samundeeswari Nagar Krishna Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Samandar 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, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300. 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 Samandar Nagar?

Samandar Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pammal. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation based on the prevailing rates in the area.

When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications associated with property transactions in the region.

Frequently asked questions

What is the current guideline value of Samandar Nagar?

The current guideline value of Samandar 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 from Rs 200 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, showing an overall increase of 835% over this period.

What is the land classification for Samandar Nagar?

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

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Samandar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 at a rate of 7%.