Guideline Value for Sami Pillai Street

Sami Pillai Street guideline value

The current guideline value of Sami Pillai Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sami Pillai Street has changed

The guideline value of Sami Pillai Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,145 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 337%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has increased to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for Sami Pillai Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that have a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Sami Pillai Street's 2024 figure below this median.

• Sami Achari Street: Rs 5,500 per sq.ft (2024)
• Sannathi Street: Rs 6,600 per sq.ft (2024)
• Sardarjung Garden 1st Street: Rs 6,600 per sq.ft (2024)
• Sardarjung Garden 2nd Street: Rs 6,600 per sq.ft (2024)
• Sardarjung Garden 3rd Street: Rs 6,600 per sq.ft (2024)
• Sardarjung Garden Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sami Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sami Pillai Street?

The Sub Registrar Office that covers Sami Pillai Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Triplicane, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sami Pillai Street?

The current guideline value of Sami Pillai Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,145 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 380% over the years.

What are the stamp duty and registration fees for properties on Sami Pillai Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office handles registrations for Sami Pillai Street?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, handles registrations for Sami Pillai Street.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, with Sami Pillai Street's 2024 figure being below this median at Rs 5,500 per sq.ft.