Guideline Value for Samiyar Thottam Street

Samiyar Thottam Street guideline value

The current guideline value of Samiyar Thottam Street is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Samiyar Thottam Street has changed

The guideline value for Samiyar Thottam Street has seen significant changes over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased dramatically to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 713%. However, the value then decreased to Rs 4,355 per sq.ft in the 2017 revision, reflecting a decline of 33%. The following revisions saw a substantial increase, with the value rising to Rs 6,500 per sq.ft in 2023, and then to Rs 7,000 per sq.ft in 2024, an increase of 8%.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 775%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, making the current value of Samiyar Thottam Street above this median.

• Samburna Avenue: Rs 5,500 per sq.ft (2024)
• Sambasivan Street: Rs 4,100 per sq.ft (2024)
• Sangaralinganar Street S.No. 400/B, 406/B: Rs 3,300 per sq.ft (2024)
• Sangeetha Colony: Rs 7,700 per sq.ft (2024)
• Sanjai Gandhi Street: Rs 3,300 per sq.ft (2024)
• Sakthi Vinayagar Koil Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Samiyar Thottam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value would be Rs 70,00,000. The stamp duty at 7% would amount to Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total fees to Rs 6,30,000. 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 Samiyar Thottam Street?

The Sub Registrar Office that covers Samiyar Thottam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with local regulations.

Additionally, the guideline value serves as a reference point for property valuation. It helps in standardizing property prices in the area, making it easier for buyers and sellers to understand the market dynamics and make informed decisions during transactions.

Frequently asked questions

What is the current guideline value of Samiyar Thottam Street?

The current guideline value of Samiyar Thottam Street is Rs 7,000 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 800 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, which is an overall increase of 775%.

What is the land classification for Samiyar Thottam Street?

Samiyar Thottam Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for Samiyar Thottam Street?

The Sub Registrar Office for Samiyar Thottam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Samiyar Thottam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 70,00,000, the stamp duty at 7% would amount to Rs 4,90,000.