Guideline Value for Sambandam Street

Sambandam Street guideline value

The current guideline value of Sambandam Street in Nemilicherry village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Sambandam Street has changed

The guideline value of Sambandam Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which saw a significant increase to Rs 2,200 per sq.ft in 2012, marking a rise of 340%. However, between 2012 and 2017, the value decreased to Rs 1,474 per sq.ft, reflecting a drop of 33%. The value then rose sharply to Rs 2,200 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 2,420 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for Sambandam Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 384%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,160 per sq.ft, placing Sambandam Street's 2024 figure above that median.

• Sankar Street: Rs 2,200 per sq.ft (2024)
• Saraswathi Street: Rs 2,160 per sq.ft (2024)
• Sarathi 1 To 3 Streets: Rs 2,160 per sq.ft (2024)
• Sarathi Street: Rs 2,200 per sq.ft (2024)
• Royapettai Odai 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Royapettai 1 & 2 Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sambandam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost for stamp duty and registration fees to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sambandam Street?

The Sambandam Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sambandam Street?

The current guideline value of Sambandam Street is Rs 2,420 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 2,420 per sq.ft in 2024, reflecting an overall increase of 384% over the years.

What is the stamp duty for property in Sambandam Street?

The stamp duty for property in Sambandam Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What are the other streets in Nemilicherry with guideline values?

Other streets in Nemilicherry include Sankar Street, Saraswathi Street, Sarathi 1 To 3 Streets, Sarathi Street, Royapettai Odai 3rd Cross Street, and Royapettai 1 & 2 Cross Street, with guideline values ranging from Rs 2,160 to Rs 2,200 per sq.ft.