Guideline Value for Samayapuram Nagar

Samayapuram Nagar guideline value

The current guideline value of Samayapuram Nagar is Rs 100 per sq.ft, effective from the 2024 revision on 1 July 2024. This area falls under Kazhanipakkam village and is governed by the Madurandakam SRO. The land classification is Residential Class I Type - I.

How the guideline value of Samayapuram Nagar has changed

The guideline value for Samayapuram Nagar has undergone several revisions over the years. In the 2007 revision, the rate was Rs 15 per sq.ft, which increased significantly to Rs 80 per sq.ft in 2012. However, there was a decrease to Rs 54 per sq.ft in the 2017 revision. The value remained stable at Rs 100 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from the 2007 revision to the current 2024 revision, there has been a substantial increase of 567%. The changes between the revisions are as follows: from 2007 to 2012, there was an increase of 433%; from 2012 to 2017, a decrease of 33%; and from 2017 to 2023, an increase of 85%.

Guideline values in Kazhanipakkam

Currently, there are no specific guideline values provided for other streets in Kazhanipakkam under the Madurandakam SRO. The guideline value for Samayapuram Nagar stands at Rs 100 per sq.ft as of the latest revision.

• none given

Stamp duty and registration fee for property in Samayapuram Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samayapuram Nagar?

The Madurandakam Sub Registrar Office covers Samayapuram Nagar. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kazhanipakkam. It is used to determine the stamp duty and registration fees applicable on the transaction. Buyers should be aware that the guideline value is often used as a benchmark for assessing property transactions.

During the registration process, the higher of the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the government receives the correct amount of revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Samayapuram Nagar?

The current guideline value of Samayapuram Nagar is Rs 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 15 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, reflecting an overall increase of 567% over the years.

What are the stamp duty and registration fees for property in Samayapuram Nagar?

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which office handles registrations for Samayapuram Nagar?

The Madurandakam Sub Registrar Office handles registrations for Samayapuram Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306.

How is the guideline value determined for property transactions?

The guideline value is determined by the government and is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value when engaging in real estate dealings.