Guideline Value for Saminatha Nagar 3rd Cross Street

Saminatha Nagar 3rd Cross Street guideline value

The current guideline value of Saminatha Nagar 3rd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Saminatha Nagar 3rd Cross Street has changed

The guideline value for Saminatha Nagar 3rd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 384 per sq.ft. This increased to Rs 457 per sq.ft in 2003, marking a 19% rise. The value then surged to Rs 1,500 per sq.ft in 2007, reflecting a substantial increase of 228%. In 2012, the value was revised to Rs 3,500 per sq.ft, which was a 133% increase from the previous figure. However, it dropped to Rs 2,345 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 916%. There are no figures available for any other revisions for this street in the register.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Saminatha Nagar 3rd Cross Street.

• Saminatha nagar 2nd Main Road: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 3rd Main Road: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 4th Main Road: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 1st Main Road: Rs 3,900 per sq.ft (2024)
• Saminatha Nagar 5th Main Road: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Saminatha Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration fees would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Saminatha Nagar 3rd Cross Street?

The Saminatha Nagar 3rd Cross Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately and fairly.

When buying or selling a property, the guideline value influences the calculation of stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Saminatha Nagar 3rd Cross Street?

The current guideline value of Saminatha Nagar 3rd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 384 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 916% over the years.

What is the land classification of Saminatha Nagar 3rd Cross Street?

Saminatha Nagar 3rd Cross Street falls under the Residential Class II Type - I land classification.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Saminatha Nagar 3rd Cross Street?

The Adayar Sub Registrar Office, which covers Saminatha Nagar 3rd Cross Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.