Guideline Value for Samayapuram Extn -II

Samayapuram Extn -II guideline value

The current guideline value of Samayapuram Extn -II, located in Erandankattalai village, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Pammal Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Samayapuram Extn -II has changed

Over the years, the guideline value for Samayapuram Extn -II has seen several revisions. The 2017 revision set the value at Rs 670 per sq.ft. In 2023, this increased to Rs 1,000 per sq.ft, marking a 49% rise. The latest revision in 2024 brought the value to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Samayapuram Extn -II.

• Samayapuram Extn -I: Rs 1,100 per sq.ft (2024)
• Samayapuram: Rs 1,100 per sq.ft (2024)
• Sanar Street: Rs 770 per sq.ft (2024)
• Sai Nagar: Rs 2,300 per sq.ft (2024)
• Sadhanandhapuram: Rs 1,100 per sq.ft (2024)
• Royal Enclave: Rs 2,465 per sq.ft (2024)

Stamp duty and registration fee for property in Samayapuram Extn -II

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Samayapuram Extn -II?

The Sub Registrar Office covering Samayapuram Extn -II is 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 Erandankattalai

The guideline value plays a crucial role during the registration of property transactions in Erandankattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and compliance with legal requirements.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher, to ensure they are prepared for the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Samayapuram Extn -II?

The current guideline value of Samayapuram Extn -II 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 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, and now to Rs 1,100 per sq.ft in 2024. This reflects an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in Samayapuram Extn -II?

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000 at 7%, and the registration fee is Rs 22,000 at 2%, totaling Rs 99,000.

Which office handles property registrations in Samayapuram Extn -II?

The Pammal Sub Registrar Office handles property registrations for Samayapuram Extn -II, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

The guideline value is significant as it sets the minimum price for property registration, ensuring that the transaction is legally compliant. It is used to calculate the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.