Guideline Value for Samiyammal Colony

Samiyammal Colony guideline value

The current guideline value of Samiyammal Colony is Rs 2,380 per sq.ft, effective from 1 July 2024. This colony is located in Hastinapuram village, under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Samiyammal Colony has changed

The guideline value for Samiyammal Colony has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 450%. However, in the following revision in 2017, the value dropped to Rs 1,474 per sq.ft, reflecting a decrease of 33%. The value then increased again to Rs 2,200 per sq.ft in 2023, and further to Rs 2,380 per sq.ft in 2024, which is an increase of 8% from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 495%.

There are no recorded figures for the years 2002 and 2003 for this street. The guideline value has seen significant fluctuations, with the most notable being the increase from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023, which is a rise of 49%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Samiyammal Colony's 2024 figure below this median.

• Sangam Street: Rs 2,970 per sq.ft (2024)
• Sankarlal jain Street: Rs 2,970 per sq.ft (2024)
• Santhanakrishna Street: Rs 4,400 per sq.ft (2024)
• Sarangaraj Kumar Street: Rs 4,400 per sq.ft (2024)
• Saraswathi Colony: Rs 2,420 per sq.ft (2024)
• Saraswathi Nagar Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Samiyammal Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value amounts to Rs 23,80,000. The stamp duty at 7% would be Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, bringing the total cost for these fees to Rs 2,14,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Samiyammal Colony?

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

You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Hastinapuram, as it determines the minimum value at which the property can be registered. This value helps in assessing the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should always refer to the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Samiyammal Colony?

The current guideline value of Samiyammal Colony is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024, which is an overall increase of 495%.

What are the stamp duty and registration fees for property in Samiyammal Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 2,14,200.

Which Sub Registrar Office covers Samiyammal Colony?

The Pallavaram Sub Registrar Office covers Samiyammal Colony, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Samiyammal Colony?

Samiyammal Colony is classified as Residential Class II Type - I, which is important for determining the applicable guideline values and regulations.