Guideline Value for Sami chetty street

Sami chetty street guideline value

The current guideline value of Sami chetty street is Rs 7,100 per sq.ft. It is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Sami chetty street has changed

The guideline value for Sami chetty street has undergone several revisions over the years. The oldest recorded figure is from 2007, where the value was Rs 1,200 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, but then decreased to Rs 4,355 per sq.ft in 2017. Following that, the value rose to Rs 6,500 per sq.ft in 2023, and currently stands at Rs 7,100 per sq.ft as of the 2024 revision, effective from 1 July 2024.

In terms of percentage changes, the value increased by 442% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. From 2023 to 2024, there was a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 492%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current guideline value for Sami chetty street.

• Samipuram: Rs 3,400 per sq.ft (2024)
• Sami reddy street: Rs 7,100 per sq.ft (2024)
• Sait Colony 3rd Street: Rs 13,400 per sq.ft (2024)
• Sait colony 2ndt street: Rs 13,400 per sq.ft (2024)
• Sait colony 1st street: Rs 13,400 per sq.ft (2024)
• Sadhu Chetty street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sami chetty street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. 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 information.

Which Sub Registrar Office covers Sami chetty street?

The Sub Registrar Office that covers Sami chetty street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and to avoid any future legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Sami chetty street?

The current guideline value of Sami chetty street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 492% over the years.

What is the classification of land on Sami chetty street?

Sami chetty street is classified as Residential Class II Type - I according to the land classification in the area.

Where can I find the Sub Registrar Office for Sami chetty street?

The Sub Registrar Office for Sami chetty street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property in Sami chetty street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000.